Oil prices surge amid hopes coronavirus vaccine means return of global travel

Crude prices continued

Crude prices continued to climb higher on Wednesday following the news of potentially effective Covid-19 vaccines developed in Russia and the US. Brent crude soared above $45 a barrel, marking a 15 percent increase from last week.

Both Brent and US West Texas Intermediate (WTI) were up almost three percent on Wednesday, with WTI trading at $42.51 per barrel.

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