Oil prices have extended the recovery, higher by 1.40% on the day so far, with spot WTI running up from a low of $55.44 to a high of $56.86.The price of Western Texas is tracking risk appetite, with US stocks on the up. The benchmarks up over 1%, propelled higher in their own recovery this week following additional and positive trade war headlines.
Trade war risks simmering away, but decreasing
In trade today, Beijing said that it wouldn’t retaliate against the latest tariff increases and that further escalation of the trade war wouldn’t help the U.S., China, nor the global economy.
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.