EIA increasingly optimistic about oil demand growth

Oil prices climbed about 2 per cent to a two-week high on Wednesday, October 18, on a bigger-than-expected US storage draw and as rising tensions in the Middle East threaten to disrupt oil supplies from the

Oil prices surged more than 2% on Monday as military clashes between Israel and the Palestinian Islamist group Hamas ignited fears of a wider conflict in the Middle East. Brent crude was up $2.28, or 2.7%,

In a statement, Union Jack Oil plc announced that the Environment Agency had issued a permit variation for the West Newton-B well site in Holderness. The variation will allow the use of oil-based fluids during drilling and

United Kingdom-focused Union Jack Oil plc has acquired a 3.22 percent interest in Beacon Energy plc. Beacon is a full-cycle oil and gas company with a portfolio of production, development, appraisal, and exploration onshore Germany through

Union Jack Oil has purchased its first international interest with a 3.22% stake in onshore Germany-focused oil and gas company Beacon Energy plc. The purchase is equivalent to 439 million shares in the production, development, appraisal

AIM-listed Union Jack Oil, a UK focused onshore hydrocarbon production, development and exploration company, has acquired a disclosable interest in Beacon Energy. Beacon is a full cycle oil and gas company with a portfolio of production, development, appraisal

Union Jack Oil plc announced that it has acquired a 3.22% stake in Beacon Energy plc, a full cycle oil and gas company with a portfolio of onshore German assets. The deal, which was completed following

U.S. crude oil prices have surged and the futures strip has moved into a sharp backwardation as inventories have drained away from the NYMEX delivery point at Cushing in Oklahoma. Futures prices for crude delivered in

Oil rose on Wednesday, firming its ground near a 10-month peak reached during trading a day earlier, as the market balanced supply concerns over Libya output and OPEC+ cuts with global macroeconomic headwinds. Benchmark Brent futures

Union Jack Oil, Europa Oil & Gas (Holdings), and Egdon Resources have announced that the installation of a jet pump system and accompanying surface equipment has commenced at the Wressle hydrocarbon development in England. The process

A statement from Egdon Resources said a downhole jet pump would be installed in an artificial lift at the well, near Scunthorpe in North Lincolnshire. Artificial lift is commonly used to increase production when the energy of the

Oil prices closed a volatile session slightly higher on Thursday, falling a dollar a barrel in early trading on demand worries and a strong dollar, but then bouncing back after a report of sliding gasoil stocks

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,”