Oil Rebounds After Trump Signals Fresh Iran Tensions

Crude prices rose Wednesday, pausing a weekslong crash after President Trump warned Iran that he has instructed the U.S. Navy to destroy Iranian gunboats if they continue to harass American ships in the Persian Gulf.

U.S. crude-oil futures for delivery in June rose 19% to $13.78 a barrel, extending a series of chaotic moves. The most heavily traded U.S. crude benchmark on Tuesday collapsed to a 21-year low, with supply overwhelming demand and storage in many parts of the world full.

Union Jack Oil plc (LON:UJO) is an onshore oil and gas exploration company with a focus on drilling, development and investment opportunities in the United Kingdom hydrocarbon sector.

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