Oil up 2% as war rages in Middle East

Oil prices climbed about 2% on Wednesday on worries the conflict in the Middle East could disrupt oil supplies and ahead of an expected US Federal Reserve announcement that could provide clues about future interest rates.

Brent futures for January delivery rose $1.63, or 1.9% to $86.65 a barrel by 1450 GMT. But the January contract remained below where the December contract settled on Tuesday.

US West Texas Intermediate crude rose $1.64, or 2.0%, to $82.66 per barrel.

The US Energy Information Administration (EIA) said energy firms added 0.7 million barrels of crude into stockpiles during the week ended Oct. 24, which was lower than the 1.3 million barrel build analysts forecast in a Reuters poll and the 1.3 million barrel build the American Petroleum Institute (API), an industry group, reported a day earlier.

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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Union Jack Oil expands into USA with three mineral royalty packages

Union Jack Oil plc (LON:UJO), a predominantly UK onshore focused production, development and exploration company, has announced details of its initial expansion into the United States of America, with the purchase of three Mineral Royalty packages, brokered by