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Reabold Resources plc

Oil Spikes As US Delays Tariffs On Chinese Goods

Oil prices continued to rally on Tuesday, this time on reports that the United States has decided to delay the next round of tariffs that were to be imposed on Chinese goods.

The delay gives hope to a skittish market that the trade war really won’t go on forever.

For WTI, oil prices had climbed 4.30% by 12:36pm EDT to trade at $57.29. Brent Crude was trading up even more at 4.70%, at $61.32—resuming its over $60 per barrel that it had fallen under during the first week of August as the trade war stoked fears of souring oil demand growth.

Reabold Resources plc (LON:RBD) is an investor in near-term, high growth upstream oil & gas projects where an injection of its capital facilitates near-term activity. Reabold’s assets include Monroe Swell, West Brentwood & Grizzly Island, in California, US.

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