Boosted by the news of the coronavirus disease 2019 (COVID-19) vaccine, oil prices rose today, reaching a nearly three-month high.

The January futures price of West Texas Intermediate crude on the New York market rose 52 cents to close at $42.42 per barrel.

The January futures price of North Sea Brent crude oil on the London market rose 76 cents to close at $44.96 a barrel, a cumulative increase of 5.1% this week.