WTI CRUDE OIL
U.S. West Texas Intermediate crude oil futures are edged lower on Friday but remained in a position to post a sixth week of gains, as the rollout of novel coronavirus vaccination programs fed hopes that demand for fuel would rebound next year.
Traders are largely ignored the massive build in U.S. crude inventories, which is signaling an abundant crude oil supply.
Promising vaccine trials are helping to lift some of the worries associated with the record increases in the number of new COVID-19 infections and deaths around the world. The U.K. began inoculations this week and the United States could start vaccinations as early as this weekend, while Canada on Wednesday approved its first vaccine with initial shots due from next week ,oil remains bullish on the long run
Traders are largely ignored the massive build in U.S. crude inventories, which is signaling an abundant crude oil supply.
Promising vaccine trials are helping to lift some of the worries associated with the record increases in the number of new COVID-19 infections and deaths around the world. The U.K. began inoculations this week and the United States could start vaccinations as early as this weekend, while Canada on Wednesday approved its first vaccine with initial shots due from next week ,oil remains bullish on the long run
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