Oil prices post longest winning streak in two years

After falling in early Asia trade, oil prices firmed up on Wednesday morning ET and extended their rally for nine straight days—the longest streak of consecutive daily gains in two years.

As of 9:17 a.m. ET on Wednesday, WTI Crude was up 0.29 percent at $58.47. Brent Crude was trading up 0.49 percent at $61.34.

The supply curbs from OPEC+ and Saudi Arabia, the weaker U.S. dollar, and the risk-on sentiment continued to stoke the rally in oil prices. The deepening backwardation in both benchmarks is further incentivizing long-position investors who hope to take advantage of a high roll yield when they have to roll their futures contract to the following month. 

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.

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