Oil prices climbed on Wednesday as China reported its lowest daily number of new coronavirus cases since late January, stoking investor hopes that fuel demand in the world’s second-largest oil consumer may begin to recover from the epidemic.
Brent crude was up 98 cents, or 1.8%, at $54.99 per barrel at 0335 GMT. U.S. West Texas Intermediate (WTI) rose 81 cents, or 1.4%, to $50.65 a barrel.
Reabold Resources plc (LON:RBD) is an investor in near-term, high growth upstream oil & gas projects where an injection of its capital facilitates near-term activity. Reabold’s assets include Monroe Swell, West Brentwood & Grizzly Island, in California, US and West Newton in the UK.