Oil prices surge

Oil prices rose on Wednesday, erasing earlier losses, after an incident involving a commercial vessel off the coast of Oman, but rising COVID-19 cases in China capped gains.

Brent crude futures gained 65 cents, or 0.7%, to $94.51 a barrel by 0854 GMT, and U.S. West Texas Intermediate (WTI) crude futures rose 35 cents, or 0.4%, to $87.27 a barrel. Both benchmarks fell more than $1 earlier in the session.

Echo Energy plc (LON:ECHO) is a full cycle, exploration led, oil and gas focused AIM-listed E&P with an exciting asset base in Latin America.

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