Oil prices exceeded $43 per barrel

News of positive results of coronavirus vaccine trials drove moderate increases in benchmark oil prices. It is reported by Interfax.

The cost of September futures for Brent oil on the London stock exchange ICE Futures by 8:14 a.m. Kyiv time was $43.40 per barrel, which is $0.12 (0.28%) higher than the price at the close of the previous session. On Monday, July 20, these contracts rose by $0.14 (0.3%).

By this time, futures for WTI crude oil for August at the electronic trading of the New York Mercantile Exchange (NYMEX) rose in price by $0.03 (0.07%) to $40.84 per barrel. By the end of previous trades, the value of these contracts increased by $0.22 (0.5%).

The August WTI contract expires at the close of trading on Tuesday. The price of September WTI futures on Tuesday morning increases by $0.05 (0.12%) and is $ 40.97 per barrel.

According to a publication in Lancet, the coronavirus vaccine being developed by the University of Oxford and AstraZeneca, according to preliminary data, helped to develop an immune response to the virus in subjects.

At the same time, the scientific publication clarifies that now vaccine trials should be carried out with the participation of those who are at risk for coronavirus – health workers and elderly people with concomitant diseases.

While the first test results for the vaccine are undoubtedly "good news, scientists say it is too early to say for sure if it is enough to protect it," said Think Markets analyst Fawad Razakzada, quoted by MarketWatch.

Earlier it was reported that India plans to store oil in the United States.

Tags: contracts, oil, hydrocarbon production, legislation, USA, energy market, oil production, coronavirus, foreign affairs, OPEC+, OPEC, oil transit, export, import, price, agreement, volumes, petroleum products, oil deliveries, energy sector, quarantine, Brent, WTI, pandemic, COVID-19, energy security, decline in production, oil companies, oil reserves, The Ministry of Energy, economy, market, oil production, supplier, consumers

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