Oil prices climb

Oil prices jumped 2% on Monday after OPEC+ nations held their output targets steady ahead of a European Union ban and a price cap kicking in on Russian crude.

At the same time, in a positive sign for fuel demand, more Chinese cities eased Covid-19 curbs over the weekend.

Brent crude futures rose $1.84, or 2.2%, to $87.41 a barrel at 0142 GMT, while U.S. West Texas Intermediate (WTI) crude futures gained $1.64, or 2%, to $81.62 a barrel.

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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