Oil prices jump on world markets

Oil prices were broadly steady on Thursday as the prospect of higher fuel demand in China as it reopens post-COVID curbs was offset by fears that U.S. crude stocks hitting their highest for months may signal weakening demand in the world’s no. 1 economy.

The Brent crude oil price on the London ICE (InterContinental Exchange Futures) picked up $0.15 to trade at $85.24, while the price of the Light crude oil at the NYMEX (New York Mercantile Exchange) rose $0.10 to stand at $78.57.

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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