Oil prices rose a dollar a barrel on Monday after three straight sessions of declines, boosted by the prospect of tightening supplies in Canada and elsewhere, although recession fears kept pressuring the market.
Brent crude futures rose $1.06, or 1.4% to settle at $75.23 a barrel. U.S. West Texas Intermediate crude settled at $71.11 a barrel, up $1.07, or 1.5%.
Wildfires raged in Alberta, Canada, shutting in large amounts of crude supply, and prices rose on fears they could worsen, said Mizuho analyst Robert Yawger.
Serinus Energy plc (LON:SENX) is an international oil company with operations in Romania and Tunisia. The focus of the Company is to enhance shareholder value by growing oil and gas production through the efficient allocation of capital.