Oil prices soar to 2-month highs

Oil prices hit two-month highs on Wednesday on tight supply and easing concerns about the potential hit to demand from the Omicron coronavirus variant.

Federal Reserve Chairman Jerome Powell said on Tuesday the economy of the United States, the world’s biggest oil consumer, should weather the current COVID-19 surge with only “short-lived” impacts and was ready for the start of tighter monetary policy.

PetroNeft Resources plc (LON:PTR) is an international oil and gas exploration and production company, focussed on Russia. The company’s shares are listed on the London AIM and Dublin ESM Markets.

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