empty
 
 

2021.04.1219:22:00UTC+00Crude Oil Futures Settle Modestly Higher

Crude oil prices moved higher on Monday despite concerns about outlook for energy demand amid reports showing spikes in coronoavirus cases in several parts of Asia and Europe.

Progress in vaccination rollout and reports about an attack on Saudi Arabian oil facilities helped lift oil prices.

Traders also reacted to Fed Chair Jerome Powell's comments in an interview with CBS on Sunday that the U.S. economy is poised for an extended period of strong growth and hiring even though the coronavirus still poses some risk.

West Texas Intermediate Crude oil futures for May ended up $0.38 or about 0.6% at $59.70 an ounce.

Over the weekend, China's top disease control official has said that the effectiveness of Chinese coronavirus vaccines was low and authorities are considering options to bolster protection.

Meanwhile, coronavirus cases rose more than 168,000 in 24 hours, breaking all records. Japan has reported a surge in new cases, and China said its vaccines lag behind other including Pfizer and Moderna in terms of efficiency. The country's top disease control official said on Sunday that the country is formally considering mixing Covid-19 vaccines, in order to boost vaccine efficacy.

  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In April we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS


Can't speak right now?
Ask your question in the chat.
Widget callback