Oil edged higher as data showed Chinese crude imports rose last month.
Futures in New York rose around 1.3% toward $40 a barrel. Chinese crude imports climbed 2.1% in September from August, the General Administration of Customs said Tuesday, in a positive sign for global demand. Buying was resilient against expectations for a slowdown and volumes are likely to stay high through to the end of the year, Australia & New Zealand Banking Group Ltd. said in a note.
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.