Brent crude Oil

Brent crude traded above $51 per barrel on the last trading day of 2020, but was on course for a 20% yearly loss as strict coronavirus lockdowns throughout the year sent oil prices to negative territory for the first time on record. Still, crude has been on the upward trend since reaching a decade-low in April, helped by a weak dollar, massive fiscal and monetary policy support globally, and more recently roll-outs of COVID-19 vaccines. In the next few weeks, concerns over coronavirus lockdowns are likely to cap gains. Investors will also monitor a January 4th meeting of OPEC+, which is set to boost output by 500,000 barrels per day in January.

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