Oil prices ticked up on Tuesday, reversing a more than 2% drop earlier in the session, as markets weighed U.S. government’s plans to refill the nation’s emergency oil reserve and anticipated higher seasonal demand.
Brent crude settled 43 cents, or 0.6% higher, at $77.44 a barrel, while U.S. West Texas Intermediate (WTI) crude closed up 55 cents, or 0.8%, at $73.71.
Both benchmarks had fallen about 2.5% earlier in the session after two days of gains.
Egdon Resources plc (LON:EDR) is an independent onshore focused oil and gas exploration and production business. An established oil and gas exploration and production business with 41 licences in proven oil and gas producing basins in the UK.