Oil rises in price on optimism around coronavirus vaccine
10:39 23.07.2020 6782
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-UAE business forum will take place tomorrow
President Serdar Berdimuhamedov at the government meeting on Friday ordered to ensure a high organizational level of the business forum “Turkmenistan – United Arab Emirates”, which will be held on June 25 in Ashgabat. The business forum "Turkmenistan - United Arab Emirates" will be a significant event aimed at strengthening cooperation between the two countries in various spheres of the economy.
Cooperation in the fields of energy and transport considered at the inter-ministerial consultations of Turkmenistan and Uzbekistan
Issues of deepening cooperation in transport and logistics, energy and other areas were discussed during the inter-MFA consultations between Turkmenistan and Uzbekistan, held on Monday in Tashkent, the website of the Foreign Ministry of Turkmenistan reports.
Foreign exchange transactions worth more than 104.2 million US dollars were concluded at the auction
54 transactions were registered at the auctions of the State Commodity and Raw Materials Exchange of Turkmenistan last week.
The government delegation of Turkmenistan discussed the prospects of the Turkmen-Uzbek partnership in Tashkent
Vice-Chairman of the Cabinet of Ministers of Turkmenistan Serdar Berdimuhamedov, who arrived at the head of a government delegation in Tashkent, met on Monday with President of Uzbekistan Shavkat Mirziyoyev, according to the website of the Ministry of Foreign Affairs of Turkmenistan.
Extraordinary meeting of the Halk Maslahaty of Milli Gengesh will be held on February 11
Extraordinary meeting of the Halk Maslahaty of the Milli Gengesh of Turkmenistan is scheduled to be held on February 11. This is provided for by the decree of President Gurbanguly Berdimuhamedov, who heads the People's Council – the upper house of the parliament of our country.