The price of oil changed a little on Tuesday, trapped in the narrow trading windows of the past 3 weeks as investors hoped for a recovery in the demand for oil against the fears of new lockdowns that arose due to the growing number of coronavirus cases.
Prices went up a little and it was aided by the positive news on the development of vaccines as medical institutions and drug makers rush to find a solution that would help counter the world’s worst health crisis in a 100 years.
Brent futures went up by 15 cents, or 0.4 per cent at $43.43 by 01:17 GMT while West Texas Intermediate (WTI) went up by 2 cents to $40.83.