Oil prices rise on Red Sea shipping attacks and supply worries

Union Jack Oil plc anticipates restarting production at the Keddington oil field, located in Lincolnshire’s East Lindsey district, in late 2024. The company, which holds a 55% stake in Keddington while Egdon Resources (UK) Ltd owns

Oil prices showed an increase on Tuesday after a significant drop of 6% in the prior session. The rise came as the United States outlined a plan to purchase oil for its Strategic Petroleum Reserve (SPR),

Oil prices experienced a modest recovery in Asian trading on Monday, following a significant drop of more than 7% last week. The fall was driven by concerns over weakening demand in China, the world’s largest oil

Oil prices experienced an increase on Thursday, rebounding from two-week lows. Investors are closely monitoring the situation in the Middle East alongside China’s recently announced stimulus plans. At the same time, the market is anticipating the

On Monday, oil prices saw a significant rise, with Brent crude surpassing $80 per barrel for the first time since August. This surge, over 3%, was largely attributed to growing concerns about a potential regional conflict

Oil prices climbed for the second straight session on Monday, fuelled by worries over potential disruptions to supply in the Middle East. This followed intensified Israeli attacks on Hamas, as well as other Iranian-backed forces in

North Lincolnshire Council has granted approval for further development at the Wressle oil and gas exploration site in the UK. The project, situated in the northern region of the country, will see an expansion of the

Oil prices experienced an increase on Monday, driven by growing fears that the escalating conflict in the Middle East might impact the region’s oil supply. At the same time, there is optimism that last week’s decision

Oil prices saw a slight increase during early trading on Monday, driven by expectations of an upcoming interest rate cut by the US Federal Reserve. However, the gains were limited due to the resumption of US

Oil prices experienced a notable rise of nearly 2% on Thursday, driven by concerns about the effects of Hurricane Francine on U.S. oil production. However, the gains were limited by a less optimistic outlook for demand.

Oil prices rose on Monday, spurred by hopes that the US Federal Reserve might lower interest rates, alongside growing tensions in the Middle East. However, concerns about a potential US recession limited further gains in the

Oil prices increased on Thursday, driven by speculation that the OPEC+ group might delay planned production increases. This potential shift has heightened concerns about supply constraints, further boosting oil prices. The ongoing fears of a recession

Union Jack Oil plc is positioning itself as a prominent player in the energy sector, both in the UK and the USA. The company’s recent strides in Oklahoma highlight its potential and commitment to broadening its

Union Jack Oil, a company focused on onshore hydrocarbon production and exploration in the UK and USA, recently provided a positive update on its strategic expansion into the USA. The company is making rapid progress in

Oil prices continued their upward momentum for the fifth consecutive session on Monday, building on the previous week’s gains of over 3%, as concerns about a US recession subsided and ongoing geopolitical tensions in the Middle