Brent crude futures rose nearly 2% as traders eyed a recovery in crude demand due to the successful vaccine trials, while the euro edged up to 1.1864 as the dollar tested the bottom of a range it has been in for the last few months. The European share rally took the region’s November gains to 15% and followed another record high for Asian equities even before the announcement of latest vaccine news. With the vaccine news and dollar index, which tracks the dollar against a basket of six major rivals, down to, commodity markets were still bullish, with traders optimistic about a recovery in crude demand pushing oil higher. Brent crude futures rose 63 cents, or 1.4%, to $45.59 a barrel in London. Safe-haven gold, meanwhile, drifted at $1,872 per ounce, having lost almost 10% since peaking in earlier August.

Source: Dhaka Tribune November 23, 2020 09:56 UTC