Oil prices rebound from 7-day losing streak

Oil prices reversed out of a seven-day losing stretch on Monday as investors punted on crude at bargain levels, though lingering fears over how a surge in globalCOVID-19 cases might affect fuel demand combined with a firmer U.S. dollar to limit gains.

Brent crude futures climbed 60 cents, or 0.9%, to $65.78 a barrel by 0158 GMT, after hitting the lowest level since May 21 of $64.60 earlier in the session.

U.S. West Texas Intermediate (WTI) crude futures for October rose 53 cents, or 0.9%, to $62.67 a barrel, recovering from $61.74, the lowest since May 21, touched in Asia’s early trade.

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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