Oil prices increased modestly in early trade on Wednesday as investors await Federal Reserve Chairman Jerome Powell’s much-anticipated congressional testimony later in the day, overshadowing demand concerns caused by China’s interest rate decrease.
Powell’s speech is expected to provide signals about the Fed’s next moves.
International benchmark Brent crude traded at $76.02 per barrel at 09.58 a.m. local time (0658 GMT), a 0.16% gain from the closing price of $75.90 a barrel in the previous trading session on Friday.
Serinus Energy plc (LON:SENX) is an international oil company with operations in Romania and Tunisia. The focus of the Company is to enhance shareholder value by growing oil and gas production through the efficient allocation of capital.