Oil Prices Hit Four-Month High On Vaccine Hopes

On July 21, 2020, WTI Crude prices were surging by 3.41 percent at $42.20, while Brent Crude prices were rising by 3.28 percent on the day to $44.69.

Oil prices surged to their highest level since Saudi Arabia and Russia broke up the OPEC+ pact in early March, thanks to promising results in a coronavirus vaccine trial and the European Union reaching a historic stimulus package deal after five days of marathon talks.