Oil prices up at levels last seen in March on Covid-19 vaccine hopes, EU deal
Oil prices rose on Tuesday, helped by positive news about vaccine trials and a European Union stimulus deal reaching levels last seen when an oil price war erupted in early March between Russia and Saudi Arabia.
Benchmark Brent crude was up $1.17 cents at $44.45 by 0904 GMT, on track for its biggest daily rise since mid-June at around 2.7%. West Texas Intermediate (WTI) gained 19 cents to $41.00, its highest daily rise in a month at around 2.6%.
The prices were buoyed by an agreement among European Union leaders on a 750 billion euro ($859 billion) fund to prop up their coronavirus-throttled economies, lifting prospects for fuel demand.
