Oil prices recovered Monday, tracking a rally in U.S. equities, as a coronavirus vaccine the University of Oxford is developing with AstraZeneca Plc showed promising results in early human testing.
The S&P 500 Index rose and AstraZeneca also gained as a positive outcome had been widely expected with the vaccine already in more advanced trials. Still, crude futures in New York were unable to eke out a strong rally after earlier falling as much as 1.9% in the wake of pandemic-driven demand concerns. Infections flared by a record in Hong Kong, Los Angeles is on the brink of another stay-at-home order and the new rate of people testing positive for the first time in Florida climbed to nearly 15%.
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.
