Brent returns to march levels, encouraged by vaccine advances

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<a href="https://admiralmarkets.com/analytics/traders-blog/brent-levels-march"><img data-resize="auto" data-resize="auto" data-resize="auto" style="width:auto;" data-src="https://fxmedia.s3.amazonaws.com/articles/The_price_of_oil_is_rising.jpg" alt="Brent returns to march levels, encouraged by vaccine advances" rel=""></a>
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The price of Brent once again touched March levels driven by advances in the vaccines against Covid-19, with three candidates close to being authorized, and the hope that, thanks to these advances, the recovery of demand could be a reality in 2021. Brent futures due in January reached 46.71 dollars a barrel this morning, the level at which it was trading at the beginning of March, in the midst of the outbreak of the pandemic.
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The <a href="https://admiralmarkets.com/start-trading/contract-specifications/instrument/crudoil" target="_blank">WTI</a> is also moving at levels close to March after adding gains in recent sessions and is now at around 43.51 dollars.
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We will have to wait until next December 1 to find out if this price increase will disrupt the OPEC+ plans to extend production cuts beyond the end of this year due to the poor recovery in demand and the new restrictions to mobility in some countries.
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On the other hand, the increases in crude prices are also coinciding with less tension in the United States, where President Donald Trump has finally agreed to facilitate a smooth transition to the new administration of Joe Biden.
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<em><img data-resize="auto" src="https://fxmedia.s3.amazonaws.com/articles/Brent_Futures_CFD_Chart.png" alt="Brent Futures CFD Chart" rel="" /></em>
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<em>Source: Admiral Markets MetaTrader 5. </em><a href="https://admiralmarkets.com/start-trading/contract-specifications/instrument/brent" target="_blank"><em>Brent</em></a><em> Futures CFD Chart (January). Data range: from October 25, 2019, to November 24, 2020. Prepared on November 24, 2020, at 11:30 am CET. Keep in mind that past returns do not guarantee future returns.</em>
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