Benchmark oil price at 11-month high

Oil prices hit their highest in nearly a year on Tuesday on lower supply bets and Treasury yields tightened from 10-month highs after strong demand at an auction.

Stocks, meanwhile, edged higher, led by Asia, with eyes on U.S. earnings and U.S. President-elect Joe Biden’s inauguration next week.

The 10-year U.S. yield touched its highest since March but tightened to near flat on the day after a Treasury auction was well bid. The yield had risen sharply this year on expectations of a massive stimulus package from the incoming Democratic administration.

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.

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