Home » Market News » DirectorsTalk Highlights » Oil hits six-week high as rigs brace for Gulf of Mexico storm
Reabold Resources plc

Oil hits six-week high as rigs brace for Gulf of Mexico storm

Oil futures hit a six-week high on Thursday as oil rigs in the Gulf of Mexico were evacuated ahead of a storm, while an incident with a British tanker in the Middle East highlighted ongoing tensions in the region.

Brent crude futures reversed early losses and were up 36 cents, or 0.5%, at $67.37 a barrel by 0643 GMT. Earlier in the session, they hit their highest since May 30 at $67.39, after ending Wednesday up 4.4%.

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.

To read the full news article please click here

Receive our exclusive interviews – Enter your email to stay up to date.

Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.