Oil prices rise on expectations of higher demand

Oil prices rose on Monday amid optimism triggered by China’s reopening and the recovery of crude demand in the world’s second-largest economy.

Brent, the benchmark for two thirds of the world’s oil, was trading 0.5 per cent higher at $79.40 a barrel at 11.05am UAE time.

West Texas Intermediate, the gauge that tracks US crude, was up 0.7 per cent at $74.77 a barrel.

Serinus Energy plc (LON:SENX) is an international oil company with operations in Romania and Tunisia. The focus of the Company is to enhance shareholder value by growing oil and gas production through the efficient allocation of capital.

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