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Oil climbs to highest level since August

News of an impending vaccine against Covid-19 and the start of President-elect Joe Biden's transition period Monday caused oil prices to rise to the highest level since August.

Photo: Bloomberg/Bloomberg

Crude prices have reached the highest level since August, rising to USD 43 per barrel yesterday, Monday, reports Bloomberg.

The price increase follows news that a Covid-19 vaccine from pharmaceutical company Astrazeneca and the University of Oxford could commence distribution as early as next month.

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