# Oil Jumps With Vaccine News Igniting Hopes of Improved Demand - Bloomberg

> Oil futures spiked 8.5% in New York in a broad market rally after Pfizer and BioNTech reported their vaccine prevented more than 90% of symptomatic infections in a large study. Coronavirus cases were still rising globally.

- Date: 2020-11-09 · published 2020-11-09T12:00:00.000Z
- Category: macro · region Global · magnitude high
- Page: https://feedsoft.ai/events/11790-oil-jumps-with-vaccine-news-igniting-hopes-of-improved-demand-bloomberg
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [ULSD / Diesel](https://feedsoft.ai/c/DIESEL.md)

## Why it matters

Expectations of a widely distributed vaccine raised hopes for a recovery in fuel demand, lifting crude prices and the diesel and energy complex that feed producers pay for.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲
- DIESEL: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| BRENT | 2020-11-09 | 1 | +7.5% | 4.1 | Bloomberg describes the oil spike on vaccine news as a broad risk rally lifting demand expectations. |
| DIESEL | 2020-11-09 | 1 | +6.2% | 3.9 | Vaccine news triggered a broad rally with oil futures up 8.5%, which pulled ULSD higher via crude input cost and demand sentiment. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2016-11-30 | [OPEC Deal Is Bad News for U.S. Gas and Good News for LNG - Bloomberg](https://feedsoft.ai/events/74028-opec-deal-is-bad-news-for-u-s-gas-and-good-news-for-lng-bloomberg.md) | +12.5% | +19.3% |
| WTI | 2020-11-16 | [Oil jumps 4 percent on upbeat COVID-19 vaccine news \| Oil and Gas News \| Al Jazeera](https://feedsoft.ai/events/50318-oil-jumps-4-percent-on-upbeat-covid-19-vaccine-news-oil-and-gas-news-al-jazeera.md) | +5.1% | +17.5% |
| WTI | 2019-10-31 | [Oil Jumps Most in Six Weeks on Economic Data, Easing Weekly Loss - Bloomberg](https://feedsoft.ai/events/56746-oil-jumps-most-in-six-weeks-on-economic-data-easing-weekly-loss-bloomberg.md) | +2.4% | +5.8% |
| WTI | 2020-12-02 | [Oil jumps more than 1% on UK vaccine approval, ongoing OPEC talks](https://feedsoft.ai/events/49828-oil-jumps-more-than-1-on-uk-vaccine-approval-ongoing-opec-talks.md) | +2.4% | +8.4% |
| WTI | 2017-09-27 | [Surging Diesel Demand Is Underpinning Crude Oil’s Bull Market - Bloomberg](https://feedsoft.ai/events/69113-surging-diesel-demand-is-underpinning-crude-oil-s-bull-market-bloomberg.md) | -2.4% | +1.3% |
| BRENT | 2019-10-31 | [Oil Jumps Most in Six Weeks on Economic Data, Easing Weekly Loss - Bloomberg](https://feedsoft.ai/events/56746-oil-jumps-most-in-six-weeks-on-economic-data-easing-weekly-loss-bloomberg.md) | +2.5% | +6.8% |
| BRENT | 2020-11-16 | [Oil jumps 4 percent on upbeat COVID-19 vaccine news \| Oil and Gas News \| Al Jazeera](https://feedsoft.ai/events/50318-oil-jumps-4-percent-on-upbeat-covid-19-vaccine-news-oil-and-gas-news-al-jazeera.md) | +5.3% | +18.6% |
| BRENT | 2020-12-02 | [Oil jumps more than 1% on UK vaccine approval, ongoing OPEC talks](https://feedsoft.ai/events/49828-oil-jumps-more-than-1-on-uk-vaccine-approval-ongoing-opec-talks.md) | +3.4% | +8.1% |

## Sources

- bloomberg.com: https://www.bloomberg.com/news/articles/2020-11-09/oil-climbs-with-biden-s-win-spurring-broader-markets-rally

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.