Oil rises as banking fears ease

Oil prices edged higher on Wednesday as Saudi Arabia’s surprise weekend pledge to deepen output cuts outweighed weak Chinese export data and rising U.S. fuel stocks. Brent crude futures were up 36 cents, or 0.5%, at $76.65 a

Oil steadied on Thursday as a potential pause in U.S. interest rate hikes and the passing of a crucial vote on the U.S. debt ceiling bill were offset by a report of rising inventories in the world’s biggest

Union Jack Oil plc recorded its first net profit of £3,606,624 post tax from a 340% increase in oil revenues mainly from the Wressle joint venture in the East Riding of Yorkshire. The company’s audited results for the

Oil production from the Wressle field in north Lincolnshire helped boost annual revenue by 349% for Union Jack, the company said today. It also announced its first annual profit and record high cash balances. In its accounts, Union Jack

Union Jack Oil announced on Wednesday that it has achieved material landmark net revenues of over $15m from the Wressle hydrocarbon development, located within licences PEDL180 and PEDL182 in North Lincolnshire, on the western margin of the Humber Basin.

Wressle is a producing conventional oil field located onshore the UK and is operated by Egdon Resources U.K. According to GlobalData, who tracks more than 34,000 active and developing oil and gas fields worldwide, the field is located in

Union Jack Oil PLC relayed to its investors an update for its joint venture partner projects onshore UK, with Europa Oil & Gas (Holdings) PLC and Egdon Resources PLC. It comes ahead of Union Jack’s interim results, due

Oil edged higher on Tuesday, on track for a third day of gains, supported by investor optimism that holiday travel in China would boost fuel demand and by expectations U.S. inventories would show a drop in crude stocks.

Oil prices firmed slightly early on Tuesday, after falling 2% in the previous session, as stronger economic data from the world’s largest crude importer China underpinned demand outlook. Brent crude climbed 23 cents to $84.99 a barrel at

Oil prices rose on Tuesday on expectations that inventories in the U.S., the world’s biggest crude consumer, are expected to fall and on signs that demand in emerging markets remains healthy. Crude futures likely received a boost from gains

Oil prices have surged after several of the world’s largest exporters announced surprise cuts in production. The price of Brent crude oil is trading above $84 a barrel after jumping by more than 5%. The increase came after

Oil prices rose on Monday as investors assessed efforts by authorities to rein in worries about the global banking system, while Russian President Vladimir Putin’s plans to place tactical nuclear weapons in Belarus ratcheted up tensions in Europe.