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Union Jack Oil

Oil prices get a boost

Oil futures settled higher on Monday, buoyed after signs of a rebound in manufacturing activity in China as well as the potential for OPEC and its allies to agree on deeper production cuts when they meet later this week.

“Trade war headlines have been the main driver of the energy markets, but since late last week, OPEC+ policy expectations, economic data, and inventory/production releases have all reemerged as market moving influences,” said Tyler Richey, co-editor at Sevens Report Research.

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