Oil prices were heading towards three-year highs on Tuesday, towing petrocurrencies and inflation expectations with them, after the world’s main oil producers failed to agree on production plans.
Wall Street was facing a groggy restart after its July 4 holiday, Europe’s equity markets were spluttering at the prospect of higher inflation and China spooked its tech sector again with another high-profile clampdown.
The main action was around the black stuff, though, after the Organization of the Petroleum Exporting Countries (OPEC) and its allies, a group known as OPEC+, abandoned talks after the United Arab Emirates rejected a proposed eight-month extension to output curbs.
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.