{"id":383363,"date":"2020-11-10T08:45:07","date_gmt":"2020-11-10T03:15:07","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=383363"},"modified":"2020-11-10T09:29:01","modified_gmt":"2020-11-10T03:59:01","slug":"oil-prices-jump-on-covid-19-vaccine-hopes-and-opec-supply-signals","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-prices-jump-on-covid-19-vaccine-hopes-and-opec-supply-signals\/","title":{"rendered":"Oil prices jump on Covid-19 vaccine hopes and OPEC+ supply signals"},"content":{"rendered":"<p>LONDON (Reuters) &#8211; Oil jumped by almost 10% on Monday for its biggest daily gain in almost six months after news of a highly effective Pfizer vaccine against COVID-19 and Saudi Arabia&#8217;s assurance that an OPEC+ oil output deal could be adjusted to balance the market. <\/p>\n<p>Brent crude rose $3.41, or 8.6%, to $42.86 a barrel by 1302 GMT while U.S. West Texas Intermediate crude was up $3.57, or 9.6%, at $40.71. <\/p>\n<p>&#8220;Asset prices move faster than the real economy, and oil and other risk assets are reacting positively today to the Pfizer vaccine news,&#8221; said BNP Paribas analyst Harry Tchilinguirian. <\/p>\n<p>Pfizer said its experimental vaccine was more than 90% effective in preventing COVID-19, based on initial data from a large study.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>LONDON (Reuters) &#8211; Oil jumped by almost 10% on Monday for its biggest daily gain in almost six months after news of a highly effective Pfizer vaccine against COVID-19 and Saudi Arabia&#8217;s assurance that an OPEC+ oil output deal could be adjusted to balance the market. Brent crude rose $3.41, or 8.6%, to $42.86 a barrel by 1302 GMT while U.S. West Texas Intermediate crude was up $3.57, or 9.6%, at $40.71. &#8220;Asset prices move faster than the real economy, and oil and other risk assets are reacting positively today to the Pfizer vaccine news,&#8221; said BNP Paribas analyst Harry [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[135,130,169],"tags":[],"class_list":["post-383363","post","type-post","status-publish","format-standard","hentry","category-business-standard-newspapers","category-newspapers","category-oil-gas-business-standard-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/383363","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=383363"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/383363\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=383363"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=383363"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=383363"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}