Oil rose to the highest in nearly three months with positive Covid-19 vaccine developments paving the way for a more sustained recovery in oil demand. Futures rose 5% in New York this week for a third straight weekly gain as Pfizer Inc. and BioNTech SE requested emergency authorization of their Covid vaccine Friday. Moderna Inc. also released positive interim results from a final-stage trial and said it’s close to seeking emergency authorization. Still, further gains were limited by broader market declines amid a dispute between the White House and the Federal Reserve over emergency lending programs. “All the incremental vaccine updates are good news for 2021,” but in the meantime, “the virus spread is just going to get worse,” said Edward Moya, a senior market analyst at Oanda Corp. “We don’t have the two most important working arms […]