Oil prices surged on Tuesday as concerns over supply disruptions after Russia’s invasion of Ukraine and related sanctions outweighed talks of a coordinated global crude stocks release.
May Brent crude futures were up $4.02, or 4.01%, to $101.99 a barrel by 1002 GMT. The benchmark touched a seven-year high of $105.79 after the invasion began last week.
U.S. West Texas Intermediate (WTI) April crude futures were up $3.24, or 3.38%, at $98.96. The contract touched a high of $99.10 a barrel the previous day, ending up more than 4%.
Egdon Resources plc (LON:EDR) is an independent onshore focused oil and gas exploration and production business. An established oil and gas exploration and production business with 41 licences in proven oil and gas producing basins in the UK.