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Union Jack Oil

Oil rises towards $65 on fears of US attack on Iran

Oil prices rallied towards $65 per barrel on fears of a U.S. military attack on Iran that would disrupt flows from the Middle East, which provides more than 20% of the world’s oil output.

Brent crude was up 42 cents, or 0.66%, at $64.87 a barrel by 0850 GMT. The global benchmark jumped 4.3% on Thursday and was up around five percent for the week, in its first weekly gain in five weeks.

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.