Oil reclaimed heights not seen since the pandemic pummeled prices in the spring, with the start of the U.S. presidential transition and improved vaccine prospects infusing optimism across markets. Prices rose 4.3% in New York to the highest since early March. The forward curves for both West Texas Intermediate and Brent have strengthened thanks to rising demand from Asia and progress toward a widespread vaccine rollout. The rally accelerated with the start of a formal transition process to U.S. President-elect Joe Biden sending The Dow Jones Industrial Average past 30,000 for the first time. “The fact that we have more certainty on what hopefully is an orderly transition is putting some wind in the sails for crude,” said Stewart Glickman, energy equity analyst at CFRA Research. “The biggest issue ahead is how willing they’ll […]