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Reuters
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Oil prices rose today Tuesday, after US officials fully approved the use of the “Pfizer-Biontech” Corona vaccine, boosting investors’ hopes of increasing fuel demand.
Brent crude futures rose 0.7% to $ 69.21 per barrel as of 6:48 a.m. GMT, and U.S. West Texas Intermediate crude rose 0.5% to $ 65.98 per barrel.
The two benchmark crudes jumped more than 5% yesterday, supported by the weaker dollar, after suffering the biggest weekly loss in more than nine months last week.
And the United States Food and Drug Administration, which granted approval of the Pfizer vaccine for emergency use in December 2021, announced its full approval for vaccinating people 16 years of age or older with the vaccine at two. doses mentioned above.
Expectations of lower U.S. crude inventories have also been supported by prices, and a preliminary investigation has shown U.S. crude and gasoline inventories are expected to decline last week, while stocks of distillate are expected to have increased.
Source: Reuters
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