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Solo Oil Plc

Oil rises on supply woes

Oil prices rose on Thursday, extending gains from its previous session, as the market shifted focus to supply disruptions, while demand concerns eased some after a sharp drop in new coronavirus cases at the epicenter of the outbreak.

Conflict in Libya that has led to a blockade of its ports and oilfields shows no signs of a resolution, while U.S. sanctions on a subsidiary of Russian state oil major Rosneft could cut more Venezuelan crude from the market, rekindling global oil supply worries.

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.

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