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Oil Prices Surge Following Positive Vaccine Trial Results from Pfizer/BioNTech, Moderna, and Oxford/AstraZeneca

Oil prices have risen sharply after Pfizer/BioNTech, Moderna, and Oxford University/AstraZeneca announced successful results from their phase 3 vaccine trials.

West Texas Intermediate crude is approaching $45 per barrel, nearly recovering from the losses incurred earlier this year, bolstered by recent missile attacks in the Middle East.

Qantas CEO Alan Joyce, eager to restart international flights, mentioned that the airline is considering updating its terms and conditions to require international travelers to be vaccinated before boarding.