Oil prices rose on Tuesday after the U.S. drug regulator granted full approval to the Pfizer Inc/BioNTech SE COVID-19 vaccine, stoking investor hopes that higher fuel demand will follow a potential step up in U.S. coronavirus vaccination rates, APA reports quoting Reuters.
Brent crude oil futures gained 66 cents, or 0.9%, to $69.41 a barrel by 0201 GMT, while U.S. West Texas Intermediate (WTI) crude futures increased by 60 cents, or 0.9%, to $66.24 a barrel.
Both benchmarks jumped more than 5% on Monday, helped by a weaker U.S. dollar, after marking their biggest week of losses in more than nine months last week.
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