Oil prices rose more than 1 per cent on Tuesday, after plunging to nine-month lows a day earlier, amid indications that producer alliance OPEC+ may enact output cuts to avoid a further collapse in prices.
Brent crude futures for November settlement rose $1.17, or 1.39 per cent, to $85.23 per barrel by 0644 GMT. US West Texas Intermediate (WTI) crude futures for November delivery were up $1.13 at $77.84 per barrel.
On Tuesday, the greenback came off the 20-year highs touched on the previous day, providing some relief to the oil market.
Valeura Energy Inc (LON:VLU) is an upstream oil & gas company, with a clear strategy to add value for shareholders. The Company has a strong balance sheet positioning it for potential inorganic growth opportunities in the near/medium-term, and substantial longer-term upside potential through an operated deep, tight gas play.