A stealth boom in oil and gas spending will boost oilfield services stocks, Morgan Stanley says

The oil market is in a bullish move and heading well into the $90 per barrel range, Bob McNally, President at Rapidan Energy, told CNBC’s Squawk Box program on Monday. Oil hitting $100 per barrel is “entirely possible,”

Union Jack Oil announced that it has reached a significant milestone, generating over $17 million in revenue since bringing the Wressle field online in August 2021. The company expects to maintain positive cash flow and cover

The oil markets were slow to react to obviously bullish catalysts such as supply cuts, falling inventories and growing demand when they first kicked in about three months ago. Indeed, it appeared that the bears were

Oil prices surged on Wednesday, trading near their highest levels since April, buoyed by crude and fuel product inventory data showing robust U.S. demand. Brent crude futures for October were up 44 cents, or 0.5%, to

Oil prices edged higher for the third straight session on Tuesday, as signs of tighter supplies and pledges by Chinese authorities to shore up the world’s second-biggest economy lifted sentiment. Brent futures gained 22 cents, or

Oil prices climbed more than 1% on Tuesday after China said it will act to support economic growth in the world’s biggest oil importer and on expectations the U.S. Federal Reserve will stop raising interest rates

Oil prices jumped on Tuesday, settling up about 2%, boosted by a falling U.S. dollar, hopes for higher demand in the developing world and supply cuts by the world’s biggest oil exporters. Brent futures rose $1.71,

Oil prices rallied on Monday after top crude exporter Saudi Arabia said it would extend its voluntary output cut of 1 million barrels per day until August. Brent, the benchmark for two thirds of the world’s

Oil was slightly higher on Monday and the rouble lower as an abortive weekend mutiny by Russian mercenaries raised questions about Russian stability and crude supply, but left investors hesitant to draw any further conclusions. Brent

Oil prices rebounded early on Wednesday, recovering after two straight sessions of losses, as expectations of hawkish Federal Reserve talk later in day and possible US crude stock drawdowns outweighed China demand worries. Brent futures firmed

Oil prices rose on Wednesday as investors awaited the outcome of the U.S. Federal Reserve’s June meeting after bullish oil demand growth forecasts from the International Energy Agency (IEA) and OPEC. Brent crude futures were up 76 cents, or

Oil prices edged higher on Wednesday as Saudi Arabia’s surprise weekend pledge to deepen output cuts outweighed weak Chinese export data and rising U.S. fuel stocks. Brent crude futures were up 36 cents, or 0.5%, at

Oil steadied on Thursday as a potential pause in U.S. interest rate hikes and the passing of a crucial vote on the U.S. debt ceiling bill were offset by a report of rising inventories in the

Union Jack Oil plc recorded its first net profit of £3,606,624 post tax from a 340% increase in oil revenues mainly from the Wressle joint venture in the East Riding of Yorkshire. The company’s audited results

Oil production from the Wressle field in north Lincolnshire helped boost annual revenue by 349% for Union Jack, the company said today. It also announced its first annual profit and record high cash balances. In its accounts,