Will A Vaccine Reinvigorate Oil Markets?

U.S. West Texas Intermediate is trading lower on Friday. The catalysts behind the selling pressure are fears over skyrocketing COVID-19 cases and their negative effect on the global demand recovery. Nonetheless, the market remains on track to finish higher for a second consecutive week, helped by vaccine hopes. Bullish News This week’s strength was primarily driven by data that showed an experimental COVID-19 vaccine being developed by Pfizer Inc and Germany’s BioNTech was 90% effective. Also providing support was the notion that OPEC+…