Oil prices firmed on Wednesday on hopes OPEC and its allies will delay a planned increase in oil output and after Pfizer said its COVID-19 vaccine was more effective than previously reported.
Brent crude LCOc1 rose 82 cents, or 1.9%, to $44.57 a barrel by 1211 GMT, while U.S. West Texas Intermediate crude CLc1 gained 76 cents, or 1.8%, to $42.92.
Both contracts jumped by about $1 after Pfizer Inc PFE.N said on Wednesday final results from the late-stage trial of its vaccine showed it was 95% effective. Last week, it had put the efficacy at more than 90%.
Moderna Inc MRNA.O said on Monday that preliminary data for its vaccine also showed it was almost 95% effective…
