Oil prices climbed Thursday, nearing their highest levels since early March with traders expecting supply cuts to help balance the crude market.
U.S. crude futures for delivery in July ended the day up 2.3% at $38.84 a barrel on the New York Mercantile Exchange. Prices have hovered just below $40 recently but have staged a weekslong recovery since briefly dropping below $0 for the first time ever in late April due to a lack of available storage.
Union Jack Oil plc (LON:UJO) is an onshore oil and gas exploration company with a focus on drilling, development and investment opportunities in the United Kingdom hydrocarbon sector.