Oil optimism returns on vaccine news

Oil prices reacted positively to the news of a Pfizer vaccine that is reportedly 90% effective for the coronavirus.Oil prices skyrocketed on Monday after Pfizer announced that its vaccine would be more than 90% effective for the coronavirus.

The announcement rippled across financial markets, with the share prices for Zoom crashing, but the stocks for cruise lines, airlines, and automakers, among other sectors, all shooting up.

Union Jack Oil plc (LON:UJO) is an onshore oil and gas exploration company with a focus on drilling, development and investment opportunities in the United Kingdom hydrocarbon sector.

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Oil prices firm after OPEC+ extends output cuts

The OPEC+ group of oil producers is holding firm on measures to boost prices. On Sunday, members agreed to extend oil output cuts of 2.2 million barrels per day into the second quarter. That’s a bid