Oil prices still rising on vaccine optimism

Crude prices continue to surge for the fifth consecutive day.

Photo: Jacob Ehrbahn

Spurred by an unexpected decline in US crude stockpiles, optimism endures that vaccines will bring an end to the coronavirus pandemic and restore fuel demand, Reuters reports.

A barrel of European reference crude Brent Thursday morning costs USD 48.88 against USD 48.17 Wednesday afternoon CET. US benchmark oil West Texas Intermediate concurrently trades at USD 45.93 against USD 45.25.

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