Spain hopes to vaccinate those in nursing homes

MADRID — Spain officials say health workers and residents in elder care homes will be the first group vaccinated when potential doses arrive.

Health Minister Salvador Illa says Spain has signed agreements with five vaccine producers and hopes to do so with two more. Once the vaccines are approved by the European Medicines Agency, Spain hopes to receive 140 million doses.

Given most vaccines will involve two doses, he says this should be enough to vaccinate some 80 million people and cover any possible problems with some vaccines.

Spain, with a population of 47 million, intends to give vaccines for free and provide the excess vaccines to countries outside the European Union that need them, Illa says.

The government hopes to vaccinate some 2.5 million people in the first stage between January and March and most of the population who need vaccines covered by mid-year. The vaccinations will be given

Read More

Oil prices hit highest level since March on vaccine hopes

Oil prices touched their highest level since March on Tuesday, rising towards $47 a barrel after a raft of positive vaccine news sparked a comeback in one of the sectors hardest hit by the pandemic.

Brent crude, the international benchmark, hit a high of $46.72 a barrel in Asia trading, as traders bet that travel and other energy-intensive industries would pick up in 2021 if coronavirus can be brought under control. The marker is up 24 per cent so far in November, putting it on course for one of its largest monthly percentage gains in recent decades.

Analysts at PVM oil brokerage in London said that traders were increasingly treating the prospect of vaccines as a “game changer” for the energy sector, though prices still remain well below the near $70 a barrel they traded at before the pandemic.

“The fight against the coronavirus is intensifying and is proving to

Read More

Oil Prices Extend Gains on COVID Vaccine Hopes | Investing News

SINGAPORE (Reuters) – Oil prices extended their gains on Monday as traders were optimistic about a recovery in crude demand thanks to successful coronavirus vaccine trials, but price gains were contained by renewed lockdowns in several countries.

Sentiment was also bolstered by hopes that the Organization of the Petroleum Exporting Countries (OPEC), Russia and other producers, a group known as OPEC+, will keep crude output in check.

Brent crude futures rose 17 cents, or 0.4%, to $45.13 a barrel by 0039 GMT while U.S. West Texas Intermediate crude gained 4 cents, or 0.1%, to $42.46 a barrel. Both benchmarks had increased by 5% last week.

“Positive sentiment continues to be driven by the recent good news about the efficacy of coronavirus vaccines in development and the expectation that the OPEC+ meeting at the end of this month could see the group extend current cuts by 3-6 months,” said Stephen Innes,

Read More

Oil Prices Edge Higher Ahead of OPEC+ Meeting, Vaccine Hopes | Investing News

SINGAPORE (Reuters) – Oil prices edged higher on Tuesday on expectations OPEC and its allies will extend oil production cuts for at least three months, while sentiment was bolstered by news of another promising coronavirus vaccine.

Brent crude futures for January

rose 16 cents, or 0.4%, to $43.98 a barrel by 0104 GMT and U.S. West Texas Intermediate crude for December

added 13 cents, or 0.3%, to $41.47 a barrel.

Equity markets rose on hopes of a quicker economic recovery after Moderna Inc

said its experimental COVID-19 vaccine was 94.5% effective in preventing infection based on interim late-state data. [nL1N2I2385] [nL1N2I20XR]

This comes after Pfizer Inc reported last week that its vaccine was more than 90% effective.

“If we judge economic recovery, particularly through the lens of oil markets… with multiple high efficacy vaccines in the pipeline, there is good chance mobility will return close to pre-pandemic levels later in

Read More

Airbus hopes its $6.5 billion German Eurofighter sale will shine for Switzerland, Finland

COLOGNE, Germany – Airbus is trying to make hay out of its $6.5 billion sale of 38 Eurofighter aircraft to Germany for other procurement competitions in Switzerland and Finland.

The European defense giant inked a deal with the German air force this week after the country’s parliament, the Bundestag, approved the budget earlier this month. The Luftwaffe stands to get 30 single-seater and 8 twin-seater planes, Airbus said in a statement.

Four of those aircraft will serve as test beds for future technology, as the company positions the Eurofighter as the bridge to the next-generation Future Combat Air System, a German-French-Spanish collaboration, according to the service.

“The renewed order from Germany secures production until 2030 and comes at a strategically important time for the program,” the company statement reads. “In addition to an expected Eurofighter order from Spain to replace its legacy F-18s, procurement decisions in Switzerland and Finland are

Read More

Oil prices jump, boosted by vaccine hopes and drop in U.S. crude inventories

Tom Little/Agence France-Presse/Getty Images

Oil futures climbed Wednesday, adding to the week’s gains on optimism that the prospect of COVID-19 vaccine will support an economic recovery, along with industry data that showed a large drop in U.S. crude inventories.

Prices have continued to push higher on this week’s vaccine news, and the report from the American Petroleum Institute, a trade group, showing a bigger-than-expected decline in weekly U.S. crude supplies contributed to the day’s gain for oil prices, said ED&F Man Capital analyst Edward Meir.

“But juxtaposed against this, are growing lockdowns in Europe and more restrictions being imposed in various U.S. states that are bound to hurt energy demand over the short-term,” he said in a Wednesday note. “We think that oil could come under renewed pressure once this current rally plays out, as the vaccine breakthrough is not imminent in terms of widespread distribution just yet, while demand

Read More

Oil rises on declining U.S. crude stocks, hopes for COVID-19 vaccine

By Aaron Sheldrick and Koustav Samanta

a clock tower lit up at night: FILE PHOTO: The sun sets behind a pump-jack outside Saint-Fiacre

© Reuters/Christian Hartmann
FILE PHOTO: The sun sets behind a pump-jack outside Saint-Fiacre

TOKYO/SINGAPORE (Reuters) – Oil prices climbed over 1% on Wednesday, after an industry report showed U.S. crude inventories have fallen more than expected, while hopes of an effective COVID-19 vaccine continued to bolster sentiment.


Load Error

Brent crude futures were up 48 cents, or 1.1% to $44.09 a barrel at 0445 GMT, while U.S. West Texas Intermediate (WTI) crude futures also rose 48 cents, or 1.2%, to $41.84 a barrel. Both benchmarks gained nearly 3% on Tuesday.

Crude stockpiles fell by 5.1 million barrels last week to about 482 million barrels, industry group data showed on Tuesday, compared with analysts’ expectations in a Reuters poll for a reduction of 913,000 barrels. [API/S]

“Defying analysts’ expectations again, the American Petroleum Institute (API) reported on Tuesday a significant ‘draw’ in crude oil inventories,”

Read More

Oil gains on vaccine hopes, even as nations reimpose lockdowns

NEW YORK (Reuters) – Oil prices rose on Tuesday as hopes that a COVID-19 vaccine is on the horizon outweighed worries about a drop in fuel demand from new lockdowns to contain the virus.

FILE PHOTO: The sun is seen behind a crude oil pump jack in the Permian Basin in Loving County, Texas, U.S., November 22, 2019. REUTERS/Angus Mordant/File Photo

Brent crude LCOc1 futures rose 94 cents, or 2.2%, to $43.34 by 12:33 EDT. U.S. West Texas Intermediate (WTI) crude CLc1 futures gained 89 cents, or 2.2%, to $41.18.

Both contracts jumped 8% on Monday, their biggest daily gains in more than five months, after drugmakers Pfizer PFE.N and BioNTech 22UAy.F said their experimental COVID-19 treatment was more than 90% effective based on initial trial results.

Oil bounced again Tuesday afternoon after the director of the U.S. National Institute of Allergy and Infectious Diseases, Anthony Fauci, said doses of

Read More

Oil Prices Drop as Near-Term Demand Concerns Overshadow COVID-19 Vaccine Hopes | Investing News

MELBOURNE (Reuters) – U.S. oil prices fell in early trade on Tuesday as concerns over demand in the near term in coronavirus-hit economies in Europe and the United States returned to haunt the market after an overnight surge on progress towards a COVID-19 vaccine.

U.S. West Texas Intermediate (WTI) crude

futures dropped 81 cents, or 2%, to $39.48 a barrel at 0029 GMT, having jumped 8% on Monday, its biggest daily gain in more than five months, after drugmakers Pfizer and BioNTech <22UAy.F> said an experimental COVID-19 treatment was more than 90% effective based on initial trial results.

“A viable vaccine is unequivocally game-changing for oil – a market where half of demand comes from moving people and things around,” JP Morgan said in a note

“But as we have written previously, oil is a spot asset that must first clear current supply and demand imbalances before one-to-two-year out prices

Read More

Lower Prices, Buyer Buzz Bolster Hopes For Condo Market In Brooklyn, Queens

As New York City real estate staggers from the economic fallout of the ongoing global pandemic, proponents of residential development in the outer boroughs — long the understudy for glitzy Manhattan condominiums — are banking on a swifter recovery.


Brooklyn Bridge in New York City

Lower price points, plunging interest rates and buyer aversion to density, as well as a thinning pipeline of units coming to market are all buoying hopes that the residential market in Brooklyn and Queens will weather this storm.

“In the rental market, there is nothing to be super-positive about right now. We are in the middle of an awful supply-demand issue, and it’s difficult to be upbeat about that,” MNS CEO Andrew Barrocas said. 

The sales market is a different story. First-time homebuyers looking for homes under $2M are active members of the market right now, and areas outside Manhattan are positioned to meet that

Read More