Oil rises on U.S. supply concerns

Oil prices rose for a second day on Tuesday as a key pipeline supplying the United States, the world’s biggest crude consumer, remained shut and on expectations loosening COVID restrictions in China, the second-biggest user globally, will boost demand.

Brent crude futures rose 64 cents, or 0.8%, to $78.63 per barrel by 0202 GMT, while U.S. West Texas Intermediate (WTI) crude futures gained 64 cents, or 0.9%, to $73.81.

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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