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Oil hits two-month high

Oil rose on Tuesday to hit $70 a barrel for the first time since March before paring gains, lifted by expectations of demand recovery after reopenings of the European and U.S. economies offset concern over spreading coronavirus cases in Asia.

Britain further eased coronavirus restrictions on Monday and Europe is starting to reopen cities and beaches. New cases in the United States continued to fall and New York lifted the mask requirement for vaccinated people.

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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