Oil gained more than 3% on Wednesday after data showed a smaller than expected build in U.S. inventories. The move also came as tensions in the Middle East rose, with Yemen’s Houthi rebels claimed they intercepted a Saudi warplane.
West Texas Intermediate crude futures rose to a session high of $57.37 before settling at $57.11 for a 3.4%, or $1.90, gain. Brent crude futures rose $1.56 to settle at $62.47.
Solo Oil PLC (LON:SOLO) is an investment company with the target of acquiring a diverse global portfolio of direct and indirect interests in exploration, development and production oil and gas assets, both on-shore and off-shore.