The battered oil and gas sector ran riot on Monday, with the sector’s popular benchmark Energy Select Sector Fund (XLE) jumping nearly 15%. The catalyst was news that Pfizer and BioNTech may have hit the jackpot with a Covid-19 vaccine–a development that has injected a heavy dose of optimism into global financial markets. The pharmaceutical giants announced they have developed BNT162, […]

The oil market has already priced in the slowing global demand recovery and the growing uncertainties about the economy amid resurging coronavirus cases in many parts of the world. Analysts largely concur that oil prices are not expected to move much higher than current levels of around $40 a barrel until the rest of the […]