Oil rises on demand optimism

Oil prices rose by 2 percent early on Monday, buoyed by market expectations that fuel demand globally is rising with the re-opening of major economies in Europe and higher travel numbers in the United States.

As of 10:01 a.m. EDT on Monday, WTI Crude was up 2.14 percent at $64.95 and Brent Crude had risen by 2.02 percent at $67.79.

Earlier in Asia trade today, oil prices were rising by more than 2.5 percent, after Iran said over the weekend that its three-month agreement with the International Atomic Energy Agency (IAEA) for monitoring nuclear activities had ended and the agency would not have access to data collected from cameras inside Iranian nuclear facilities.

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.

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