Oil edges up as market shrugs off U.S. inventory surge

Oil prices reclaimed some ground on Thursday after tumbling to a six-month low in the previous session but investors remained concerned about sluggish demand and economic slowdowns in the U.S. and China. Brent crude futures rose 27 cents,

Oil prices rose on Tuesday, supported by a weak dollar and expectations that the OPEC+ producer group would deepen and extend output cuts due to concerns over subdued demand. Brent crude futures were up 57 cents, or 0.7%,

The Wressle-1 well has been brought back into production at the joint venture within PEDL180/192 oil field in Lincolnshire. Project partners comprise operator Egdon Energy plc (30%), Union Jack Oil plc (40%) and Europa Oil & Gas (Holdings)

Crude oil prices began the week with gains amid mounting expectations that OPEC+ will deepen voluntary production cuts. Both Brent crude and West Texas Intermediate posted modest gains in mid-morning trade in Asia today, with Brent crude remaining above $81, where it

Licence PEDL253 holders Union Jack Oil plc (45%), operator Egdon Resources Ltd (35.8%) and Montrose Industries Ltd (19.2%) secured permission after Lincolnshire County Council last year rejected their application. The partners will review the planing inspector’s decision notice and planning

Union Jack Oil plc has won its appeal before the Planning Inspectorate against the refusal of planning permission by the Lincolnshire County Council for a side-track drilling operation, associated testing and long-term oil production at the Biscathorpe-2 well

Oil prices edged up on Monday as the US Dollar slipped and supply concerns mounted over the Biden Administration slamming Iranian oil with tighter sanctions in light of the Islamic Republic’s alleged involvement in the surprise Gaza attack,

Oil prices climbed about 2% on Wednesday on worries the conflict in the Middle East could disrupt oil supplies and ahead of an expected US Federal Reserve announcement that could provide clues about future interest rates. Brent futures

Oil prices rose in early Asian trade on Tuesday ahead of global central bank meetings and as tensions in the Middle East remained high. Brent crude futures LCOc1 rose 46 cents, or 0.53%, to $87.91 a barrel by 0001 GMT

The workover of the well at the UK’s newest producing onshore oilfield has been “successfully concluded”, one of the partners reported today. Union Jack Oil said in a statement that a new surface Triplex pump had been installed and connected.

Oil prices extended gains on Friday and were on track to rise for a second week on heightened fears that the Israel-Gaza crisis may spread in the Middle East and disrupt supply from one of the world’s top-producing

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 region, with

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%, to $86.86