Business
ASX energy shares surge ahead as oil rises to 9-month high
The share price of ASX oil companies rose today after crude oil prices are trading near their highest levels since March, as signs that COVID-19 vaccinations in the United States could be underway within three weeks.
The ASX Energy Index (ASX: XEJ) is up by more than 3.5% in today’s trading, amid a broader rise in the S&P/ASX 200 Index (ASX: XJO) of 1.2% at the time of writing.
Why the rally in oil prices
Shares on the ASX broadly rallied today after AstraZeneca Plc (NYSE: AZN) became the latest major pharmaceutical company to report successful late-stage results for a potential COVID-19 vaccine. Markets in the United States and around the world were also bolstered by the announcement that vaccinations in the US, the most…
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