12:57 GMT26 November 2020
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    MOSCOW (Sputnik) - Oil is trading 3 percent up on Wednesday, with Brent crude going over $45 per barrel for the first time since 2 September.

    As of 9:46 GMT, January Brent futures were trading at $45.05, December WTI futures at $42.81 per barrel.

    Earlier this week, oil prices reacted positively to the announcement made by Pfizer and BioNTech that interim results from their coronavirus vaccine trial showed that it has an "efficacy rate above 90%". 

    Also, the price for Brent crude oil was growing amid the US Department of Energy's report which lowered its forecast for this oil blend in 2020 to $40.61 from $41.19 per barrel. The report added that next year, the price will be $46.59 per barrel. 

    In addition to this, the Department of Energy lowered the forecast for daily oil production in the US in 2020 to 11.39 mln barrels and slightly increased for 2021 - from 11.09 mln barrels to 11.1 mln barrels.

    Tags:
    barrel, oil, oil prices, Brent
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