Oil surged more than 1% in early trading on Monday morning as tensions in the Middle East escalated over the weekend, pushing Friday’s gains into a second week.
Brent crude jumped 1.5%, to as high as $70.74 per barrel, its highest price since September. West Texas Intermediate gained 1.2%, to $63.79 per barrel, its highest since April.
Tensions in the Middle East have mounted since the death of Iranian Maj. Gen. Qassem Soleimani late Thursday.
Reabold Resources plc (LON:RBD) is an investor in near-term, high growth upstream oil & gas projects where an injection of its capital facilitates near-term activity. Reabold’s assets include Monroe Swell, West Brentwood & Grizzly Island, in California, US and West Newton in the UK.