Crude oil futures rose for a third day after prospects for a truce in the Israel-Hamas war seemed to diminish and as slowing U.S. production eased worries that the market is oversupplied.
The West Texas Intermediate contract for March added 55 cents, or 0.75%, to settle at $73.86 a barrel Wednesday, while the Brent contract for April gained 62 cents, or 0.79%, to settle at $79.21 a barrel.
Israel Prime Minister Benjamin Netanyahu on Wednesday rejected a proposal made by Hamas for a permanent ceasefire, vowing to fight on in Gaza until “absolute victory.”
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.