Oil rises in price on optimism around coronavirus vaccine
10:39 23.07.2020 6551
Benchmark oil prices rose moderately on Tuesday amid news of positive results from coronavirus vaccine tests, Interfax reported.
The cost of September futures for Brent oil on the London stock exchange ICE Futures by 8:14 Moscow time was $43.40 per barrel, which is $0.12 (0.28%) higher than the price at the close of the previous session. These contracts gained $0.14 (0.3%) on Monday.
By this time, futures for WTI crude oil for August at the electronic trading of the New York Mercantile Exchange (NYMEX) rose in price by 0.03 (0.07%) - to $40.84 per barrel. By the close of previous trades, the value of these contracts increased by $0.22 (0.5%).
The August WTI contract expires at the close of trading on Tuesday. The price of September WTI futures on Tuesday morning increases by $0.05 (0.12%) and is $40.97 per barrel.
According to a publication in the journal Lancet, the coronavirus vaccine being developed by the University of Oxford and AstraZeneca, according to preliminary data, helped to develop an immune response to the virus in subjects.
At the same time, the scientific publication clarifies that now vaccine trials should be carried out with the participation of those who are at risk for coronavirus - health care workers and the elderly with concomitant diseases.
While the first test results for the vaccine are undoubtedly "good news, scientists say it is too early to say for sure whether it is sufficient to protect it", - Think Markets analyst Fawad Razakzada, quoted by MarketWatch, said.
He also stressed that "in the past few weeks, oil prices have been extremely calm, which may indicate the likelihood of a sharp movement in the near future".
Meanwhile, the leaders of the European Union countries, after four days of negotiations, have reached an agreement on a plan to restore the economy hit by the coronavirus pandemic and the EU budget for 2021-2027, European Council President Charles Michel announced on Tuesday.
Turkmenistan declares March 31 a day off in connection with the holiday of Oraza Bayramy
The President of Turkmenistan Serdar Berdimuhamedov signed a Decree on the celebration of Oraza Bayramy on March 30, in connection with which the day off was moved to March 31. The corresponding document was published in the central media of our country.
OPEC will be headed by a representative of Kuwait from August
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Modern Information and Analytical Center for sustainable energy development has been opened in Turkmenistan
Today, March 26, the grand opening of the Information and Analytical Center was held at the Natural Gas Research Institute of the State Concern "Turkmengas". The center is equipped with the latest IT equipment purchased with the support of the European Union project "Green Development of Turkmenistan: Policy Dialogue and Climate Action for 2024-2028", funded by the European Union and the German Foreign Ministry and implemented by GIZ.
Hero-Arkadag and Recep Erdogan noted the rapid development of bilateral cooperation
On Sunday, March 30, a telephone conversation took place between the National Leader of the Turkmen people, Chairman of the Halk Maslahaty of Turkmenistan Hero-Arkadag Gurbanguly Berdimuhamedov and the President of the Republic of Turkey Recep Tayyip Erdogan, TDH reports.
Refined products were in the lead in the auctions
At the auction of the State Commodity and Raw Materials Exchange of Turkmenistan, 47 transactions were registered last week.