Oil prices jumped more than 3% on Monday, reversing an earlier fall to multi-year lows as hopes of a deeper cut in output by OPEC and stimulus from central banks countered worries about damage to demand from the coronavirus outbreak.
Brent crude was at $51.91 a barrel, up $1.71 or 3.4%, by 0925 GMT, having earlier hit its lowest since July 2017 at $48.40.
Across the Atlantic, US West Texas Intermediate crude hit a 14-month low of $43.32 before recovering to $46.15, up $1.39, or 3.1%.
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.