Oil prices rise as US inventory data reflect robust demand

Oil prices increased in Asia on Monday as investors closely monitored signs that the US might start reducing interest rates as early as September. By 0651 GMT, Brent crude futures had risen by 32 cents (0.39%)

Oil prices continued their upward trend on Thursday, driven by a larger than expected decline in US crude inventories, the world’s largest oil consumer. Brent futures increased by 41 cents, or 0.5%, reaching $85.49 per barrel

Oil prices maintained their stability on Monday, despite facing downward pressure from a stronger U.S. dollar and worries about demand in China, the world’s largest importer. The dollar strengthened as investors speculated that the recent attack

Union Jack Oil plc has commenced drilling its second joint venture well on the West Bowlegs prospect in Seminole County, Oklahoma. The operator, Reach Oil & Gas Company Inc, anticipates that the drilling of Andrews 2-17

Oil prices climbed on Monday, bolstered by forecasts of a supply deficit due to peak summer fuel consumption and OPEC+ cuts in the third quarter. Despite this, global economic headwinds and rising non-OPEC+ output limited the

Oil prices climbed in Asian trading on Friday, marking a third consecutive weekly increase. This rise is driven by growing expectations that the US central bank will soon lower interest rates, coupled with strong complex refining

Oil prices experienced a slight increase on Wednesday, despite an unexpected rise in U.S. gasoline supplies, as investors expressed concerns about potential disruptions in crude supplies from the Middle East due to escalating tensions in Gaza.

Oil futures experienced an upward trend on Thursday following the U.S. Energy Information Administration’s (EIA) report of a decline in crude oil inventories and data indicating a cooling jobs market. These factors have led to speculation

Union Jack Oil plc has acquired a 45% working interest in the Rogers enhanced oil recovery project and associated leases located in Seminole County, Oklahoma, USA. This purchase from current partner and operator, Reach Oil &

Oil prices saw an increase on Tuesday, continuing the previous day’s rally. This rise was attributed to expectations of higher seasonal fuel demand and potential U.S. crude purchases to replenish its petroleum reserve, despite the gains

Oil prices continued to rise on Thursday, bolstered by growing expectations of an interest rate cut from the U.S. Federal Reserve in September. This potential rate cut provided support despite being tempered by an OPEC+ plan

Union Jack Oil plc, a UK-based onshore oil and gas exploration and production company, has made significant strides in developing domestic energy resources. Since its inception in 2011, the company has focused on acquiring and developing

Oil prices rose in Asian trading on Wednesday, driven by expectations that major producers will maintain output cuts at a meeting this Sunday. Additionally, the start of the peak summer demand season is anticipated to boost

Union Jack Oil plc announced its audited results for the year ending 31 December 2023. The flagship Wressle project continues to perform well following a workover, installation of a downhole pump, and other significant site upgrades.