Oil prices jumped to a four-month high on Tuesday, rallying on hopes of economic stimulus. However, the uncontrolled spread of the coronavirus in the U.S. puts something of a ceiling on prices for the time being.
After several days of tough negotiations, the European Union agreed to a 750-billion-euro stimulus package, in a historic vote of confidence in the European project. For the first time, European countries will sell bonds collectively rather than on an individual basis, and funnel the proceeds to hard-hit countries, particularly in Southern Europe.
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.
