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Signs suggest a positive week for oil prices

Crude markets are trading in a tight range around the Brent $45 mark with little progressive news flow on the macro front. 

This week’s inventory data was supportive, but the next significant catalyst that the market is focused on could be the US coronavirus stimulus package, which should positively impact the broader economic recovery and, by extension, energy demand.

Oil remains buoyed by optimism that a sustained recovery in energy demand is underway.

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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