- March 3rd, 2021
Oil rises as U.S. vaccine progress raises demand expectations
Oil prices rose on Wednesday as signs of progress in the COVID-19 vaccine rollout in the United States, the world’s biggest consumer, raised demand expectations.
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Oil prices rose on Wednesday as signs of progress in the COVID-19 vaccine rollout in the United States, the world’s biggest consumer, raised demand expectations.
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British wholesale gas prices were little changed on Tuesday morning, as forecasts confirmed an outlook for colder weather and low wind which lifted contracts by around 5% on Monday.
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Oil prices slid more than 1% on Tuesday as expectations that OPEC would agree to raise oil supply in a meeting this week weighed on sentiment, already hit by concerns over slowing Chinese demand.
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British wholesale gas prices rose on Monday morning as an increase in demand for gas for heating and power left the system undersupplied.
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Oil prices rebounded more than $1 on Monday after the U.S. House of Representatives passed a huge stimulus package, although a slowdown in China’s February factory activity growth capped gains.
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