At the time of writing this report, Brent crude rallied by 1.8%, to trade at $63.04 a barrel after losing about 4% yesterday.
The precious metal rallied higher at the mid-week trading session as buyers got assurance from the U.S. Federal Reserve.
Nigerian investors are significantly hunting for consistent returns on investment thus increasingly selling off their equity portfolios.
Oil traders are arbitrarily going short, on signs of more COVID-19 lockdowns in Europe.
The 10-year Treasury yield reversed higher before consolidating at 1.73%, as it stayed around its 14-month high.
Brent crude futures were down by more than 0.6% to trade at $67.50 a barrel after losing 0.6% yesterday.
Brent crude futures were also down by 0.2%, to trade at $68.29 a barrel.
Oil traders anticipate such delays in COVID-19 usage could adversely affect energy demand.
For many retail cryptocurrency traders, Bitcoin was the bread-and-butter trade of the pandemic.
Brent crude futures jumped by 1.17% to $69.99 a barrel and the West African Texas Intermediate surged by 1.17% to $66.38 a barrel.
