By one measure, oil prices could rise to $150 a barrel this year, which would be the highest price ever recorded. And while the Russia-Ukraine standoff is part of the reason for oil’s recent spike, there is more to it.
On Monday, Brent crude futures, the international benchmark, were trading flat at $94.46 a barrel. West Texas Intermediate crude was up 0.4%, to $93.48 a barrel. Oil stocks slid with the broader market. Exxon Mobil (ticker: XOM) was down 3.7%.
Valeura Energy Inc (LON:VLU) is an upstream oil & gas company, with a clear strategy to add value for shareholders. The Company has a strong balance sheet positioning it for potential inorganic growth opportunities in the near/medium-term, and substantial longer-term upside potential through an operated deep, tight gas play.