Baku, December 11, AZERTAC
Brent crude on Thursday jumped above $50 a barrel for the first time since March with the rollout of Covid-19 vaccines outweighing concerns about swelling oil inventories. The UK began a mass vaccination programme this week and it is expected immunisations will start soon in the US and Canada, fuelling optimism of a recovery in oil demand.
Brent crude, the international oil benchmark, rose 4.3 per cent to $50.95 a barrel in afternoon trading in London. West Texas Intermediate, the US marker, increased 4.6 per cent to $47.63 a barrel.