Oil prices rose on Monday after China rolled over liquidity measures to help its pandemic-hit economy, igniting hopes for a better fuel demand outlook from the world’s top crude importer.
Brent crude futures rose 81 cents, or 0.88%, to $92.44 a barrel by 0642 GMT, recovering from a 6.4% fall last week. U.S. West Texas Intermediate crude was at $86.33 a barrel, up 72 cents, or 0.84%, after a 7.6% decline last week.
China’s central bank rolled over maturing medium-term policy loans while keeping the interest rate unchanged for a second month on Monday.
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.