After taking a beating over the past few weeks, oil prices have been surging on rising demand optimism, a major production outage in Mexico, and the first full U.S. regulatory approval of a COVID-19 vaccine. October crude and Brent were up 3% to $67.47/bbl and $70.83/bbl, respectively, a day after a 5% surge by both benchmarks snapped a seven-day losing streak after China claimed to have brought its coronavirus cases down to zero and opened up the Ningbo port, one of the busiest in the world, after a two-week shutdown.
About two weeks ago,…Oil’s Comeback Is Lifting Commodity Prices
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