Platts Market Insight: Oil prices race ahead as vaccine rollout gathers pace


Mriganka Jaipuriyar

OIL prices are racing ahead, supported by optimism around the vaccine rollout and fresh evidence of their efficacy in preventing infection. Israel, the country with the fastest rate of vaccination, aims to attain herd immunity by March.

Platts Dated Brent -- a global physical benchmark price of light sweet crude oil -- has risen close to $65/barrel, a 27% year-to-date gain, boosted by expectations of a strong demand recovery in the second half of the year, OPEC+ supply management, and an expansion in stimulus funding.

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