Oil hit its highest since March on Tuesday, rising towards $47 a barrel, as a third promising coronavirus vaccine spurred hopes of a quicker recovery in economic growth and oil demand next year.
AstraZeneca said on Monday its COVID-19 shot was 70% effective in trials and could be up to 90% effective, giving the fight against the pandemic a third vaccine. This follows positive results from Pfizer/BioNTech and Moderna.
Brent crude rose 31 cents, or 0.7%, to $46.37 a barrel by 0914 GMT and hit a session high of $46.72, its highest since March 6.
