Oil prices traded higher on Wednesday after an industry report said U.S. crude stockpiles fell last week by more than twice the amount that analysts in a Reuters poll had forecast.
Brent crude futures rose 51 cents, or 0.6%, to $62.89 a barrel by 0405 GMT, while West Texas Intermediate (WTI) futures were up 54 cents, or 0.9%, to $57.94 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.