Crude oil

Oil Prices Swing U.S Marks Thanksgiving Holiday

Oil prices were mixed on Friday in a quiet trade due to the US Thanksgiving holiday. WTI crude fell 1.5% to $45.03 a barrel at around 06:45 AM GMT, amid fears that many people are ignoring lockdown advice and travelling.

The US Transportation Security Administration said that almost six million Americans took air trips from Friday to Wednesday in advance of the holiday.

Sentiment was also dented by reports that the British government had formally asked the country’s medicines regulator to assess whether a virus vaccine developed by AstraZeneca and Oxford University should be authorized for use following a dosing error.

Meantime, Brent crude was almost unchanged at $47.83 a barrel. Both benchmarks have risen about 6% this week, amid hopes for massive US economic stimulus under the incoming Joe Biden administration. 

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