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Union Jack Oil

Oil rises 3% as China moves to stimulate economy

Oil futures settled higher Tuesday, recouping some of the losses suffered over back-to-back sessions as China took steps to boost its economy a day after another round of downbeat data.

Just a day earlier, oil fell amid further signs of economic weakness in China. But reports Tuesday, suggesting that China was taking greater steps to shore up flagging growth, lifted expectations that strong demand for oil from the world’s second-largest economy could be sustained.

 

Union Jack Oil (LON:UJO), The directors believe that significant opportunities exist to invest in, or acquire, a company or companies or businesses or assets in the hydrocarbon sector.

The investment strategy will have a heavy emphasis on acquiring late stage exploration projects where planning consent has been approved for drilling wells and to acquire minority production working interests onshore and/or offshore in the UK.

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