Crude futures climbed to fresh 13-month highs Feb. 12 as oil demand outlooks improved amid signs of progress on US COVID-19 vaccination distribution and a coronavirus stimulus package. NYMEX March WTI settled up $1.23 at $59.47/b and ICE April Brent climbed $1.30 to $62.44/b. President Joe Biden announced late Feb. 11 that the US has secured deals to buy 200 million more COVID-19 vaccines from producers Moderna and Pfizer, boosting optimism that a rapid rollout of doses will lead to a robust oil demand recovery in the second half of the year. “The crude demand outlook looks like it could get its best-case scenario as Americans who want a COVID[-19] […]