Oil soars 8% on strong results for COVID-19 vaccine tests

By Biju KumarNovember 10, 2020

NEW YORK: Oil surged on Monday, putting it on track for its biggest daily gain in more than six months after Pfizer NSE 7.12 % announced promising results for its COVID-19 vaccine, boosting risk assets around the globe.

Brent crude was up $3.14, or 8%, to $42.61 a barrel at 11:24 a.m. EDT (1624 GMT), while U.S. West Texas Intermediate crude was up $3.35, or 9%, at $40.49.