Oil prices edged higher at the start of the week, reversing part of last week’s slump. Brent crude gained close to one percent, with West Texas Intermediate following a similar path. The move came as traders reassessed the risk that U.S.–China tensions could spiral into something more damaging for global trade.
China’s crude import figures for September showed renewed strength, suggesting refiners are still replenishing inventories despite wider trade uncertainty. That steadier demand base has helped stabilise sentiment, even as broader macro indicators continue to flicker. Meanwhile, OPEC+ members have held supply growth in check, providing a degree of discipline that has curbed the worst of the selling pressure.
Union Jack Oil plc (LON:UJO) is an oil and gas company with a focus on onshore production, development, exploration and investment opportunities within the United Kingdom and the United States of America hydrocarbon sector.
