{"id":25020,"date":"2020-07-21T13:26:20","date_gmt":"2020-07-21T13:26:20","guid":{"rendered":"http:\/\/watchdogplusmedia.com\/?p=25020"},"modified":"2020-07-21T13:26:29","modified_gmt":"2020-07-21T13:26:29","slug":"oil-prices-rise-on-hopes-of-coronavirus-cure-bonny-light-loses-0-58","status":"publish","type":"post","link":"https:\/\/watchdogplusmedia.com\/?p=25020","title":{"rendered":"Oil prices rise on hopes of coronavirus cure, Bonny Light loses 0.58%"},"content":{"rendered":"\n
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Oil prices jumped on Tuesday on the back of favourable reports of vaccine trials and of a European Union rescue package deal, touching heights last witnessed in early March, when a price war broke out between Saudi Arabia and Russia.<\/p>\n\n\n\n

Brent crude<\/a> rose by 90 cents or 2.21% to $41.71 a barrel at 11:18 West Africa Time while United States\u2019 West Texas Intermediate<\/a> edged up by $1.07 or 2.47% to $44.35<\/p>\n\n\n\n

Bonny Light<\/a>, Nigeria\u2019s premium oil grade, dipped by 25 cents or 0.58% to $42.92 per barrel at the last session.<\/p>\n\n\n\n

But Qua Iboe, another national offering, climbed 42 cents or 0.97% up to $43.70.<\/p>\n\n\n\n

The oil prices of Brent and WTI were bolstered by a pact among European Union dealers on a 750 billion euro ($859 billion) fund to reinforce economies taking a bashing from the novel coronavirus, raising optimism of fuel demand rebound.<\/p>\n\n\n\n

The deal positions the European Commission to source several billions of euros across capital markets for 27 nations, a gesture of solidarity never seen in roughly seventy years of European integration.<\/p>\n\n\n\n

Also provoking rise in oil prices was the data issued on Monday, indicating that an effective virus vaccine might be round the corner even if a worldwide launching will take time.<\/p>\n\n\n\n

A number of cinemas on Monday restarted in China where the pandemic sprang late last year, after half a year of closure, a further indication of economic rebound in the world\u2019s second largest economy and biggest importer of oil<\/a>.<\/p>\n\n\n\n

Economies like United States and India are reporting record surge in cases while Spain and Australia are confronting new waves of infections.<\/p>\n","protected":false},"excerpt":{"rendered":"

Oil prices jumped on Tuesday on the back of favourable reports of vaccine trials and of a European Union rescue package deal, touching heights last witnessed in early March, when a price war broke out between Saudi Arabia and Russia. Brent crude rose by 90 cents or 2.21% to $41.71 a barrel at 11:18 West Africa […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_seopress_robots_primary_cat":"none","_mi_skip_tracking":false},"categories":[21],"tags":[],"yoast_head":"\nOil prices rise on hopes of coronavirus cure, Bonny Light loses 0.58% » WatchDog Plus Media<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/watchdogplusmedia.com\/?p=25020\" \/>\n<meta name=\"author\" content=\"Odofin\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/watchdogplusmedia.com\/?p=25020#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/watchdogplusmedia.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Economy\",\"item\":\"https:\/\/watchdogplusmedia.com\/?cat=21\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Oil prices rise on hopes of coronavirus cure, Bonny Light loses 0.58%\"}]}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Oil prices rise on hopes of coronavirus cure, Bonny Light loses 0.58% » WatchDog Plus Media","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/watchdogplusmedia.com\/?p=25020","author":"Odofin","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"BreadcrumbList","@id":"https:\/\/watchdogplusmedia.com\/?p=25020#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/watchdogplusmedia.com\/"},{"@type":"ListItem","position":2,"name":"Economy","item":"https:\/\/watchdogplusmedia.com\/?cat=21"},{"@type":"ListItem","position":3,"name":"Oil prices rise on hopes of coronavirus cure, Bonny Light loses 0.58%"}]}]}},"rttpg_featured_image_url":null,"rttpg_author":{"display_name":"Odofin","author_link":"https:\/\/watchdogplusmedia.com\/?author=2"},"rttpg_comment":0,"rttpg_category":"<a href=\"https:\/\/watchdogplusmedia.com\/?cat=21\" rel=\"category\">Economy<\/a>","rttpg_excerpt":"Oil prices jumped on Tuesday on the back of favourable reports of vaccine trials and of a European Union rescue package deal, touching heights last witnessed in early March, when a price war broke out between Saudi Arabia and Russia. Brent crude rose by 90 cents or 2.21% to $41.71 a barrel at 11:18 West Africa…","_links":{"self":[{"href":"https:\/\/watchdogplusmedia.com\/index.php?rest_route=\/wp\/v2\/posts\/25020"}],"collection":[{"href":"https:\/\/watchdogplusmedia.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/watchdogplusmedia.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/watchdogplusmedia.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/watchdogplusmedia.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=25020"}],"version-history":[{"count":-4,"href":"https:\/\/watchdogplusmedia.com\/index.php?rest_route=\/wp\/v2\/posts\/25020\/revisions"}],"wp:attachment":[{"href":"https:\/\/watchdogplusmedia.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=25020"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/watchdogplusmedia.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=25020"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/watchdogplusmedia.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=25020"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}