Oil Hits $50 On Vaccine Rollout ...Middle East

OILPRICE - Economy
Oil Hits $50 On Vaccine Rollout
source : OILPRICE ( Middle East ) () 13
Brent Crude hit $50 a barrel on Thursday morning for the first time since oil prices crashed in early March, as hopes of swifter-than-thought vaccine rollout fueled bullish expectations of strengthening oil demand early next year. As of 10:35 a.m. ET, Brent Crude was rallying by 3.56 percent at $50.60. The price of Brent reached the $50 a barrel threshold for the first time since the first days March, when Saudi Arabia and Russia broke up the previous OPEC+ pact, contributing to massive slides in oil prices exacerbated by the demand crash in the…

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