Oil was broadly steady on Wednesday after Russia cut gas supplies to Bulgaria and Poland, while lingering concerns about Asian coronavirus lockdowns weighing on economic growth and oil demand kept a lid on prices.
Having dipped into negative territory, Brent crude futures rose 53 cents, or 0.5 per cent, to $105.52 a barrel by 1024 GMT. U.S. West Texas Intermediate crude futures gained 60 cents, or 0.6 per cent, to reach $102.30 a barrel.
Russian energy giant Gazprom said on Wednesday it halted gas supplies to Bulgaria and Poland in a major escalation of Russia’s broader row with the West over Ukraine.
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.