Brent crude futures climbed as high as $74.69 per barrel earlier today, up 0.7 percent from their last close and their highest level since November 2018. By 10.16am UK time, this price was at $74.53 per barrel. US West Texas Intermediate (WTI) crude futures marked their strongest level since October 2018 at $66.07 per barrel at the time of writing. Washington has this week urged buyers of Iranian oil to stop purchasing from Tehran or face sanctions, effectively ending six months of waivers. The White House said on Monday waivers for countries still buying from Iran – including China, India, Japan, South Korea and Turkey would stop on May 1.
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.