Oil prices rose on Wednesday as U.S. sanctions on crude exporters Iran and Venezuela as well as ongoing supply cuts by producers have left markets tight just as crude imports to China rose to a record for April.
U.S. West Texas Intermediate (WTI) crude futures were at $61.96 per barrel at 0658 GMT on Wednesday, 56 cents, or 0.9 percent, above their last settlement.
Brent crude oil futures were at $70.31 per barrel, 43 cents, or 0.6 percent, above their last close.
Reabold Resources (LON:RBD) invests in operating companies whose main value driver is the oil & gas asset of interest. Reabold can thereby run a low-cost, non-operator business model where the monetisation versus the entry price of the oil & gas projects it invests in will be the key determinant of value. Monetisation of investments depends on the extent of any success and market conditions. These include an asset sale, IPO or putting the asset into production.