Oil gains slightly

Crude oil prices gained slightly after the Energy Information Administration confirmed the API’s estimate of an inventory build for the week to February 25.

Crude oil inventories added 1.2 million barrels in the reporting period, the EIA said, adding that at 480.2 million barrels they were 9 percent above the five-year average for this time of the year.

A week earlier, the EIA estimated an inventory build of 7.6 million barrels for crude oil, following another one, of 16.3 million barrels, which was the result of data adjustment.

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.

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