KARACHI: Oil rose to hit $52 a barrel on Monday as US President Donald Trump’s signing of a coronavirus aid package and the start of a European vaccination campaign outweighed concern about weak near-term demand.
Trump, whose presidency is set to end next month, had earlier threatened to block the $2.3 trillion aid and spending package. Europe, meanwhile, launched a mass vaccination drive on Sunday.
Brent crude was up $0.68, or 1.3%, at $51.97 a barrel at 1020 GMT, after trading as high as $52.02, reversing an earlier decline. US West Texas Intermediate (WTI) crude added $0.69, or 1.4%, to $48.92. Read more…..
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