WTI (Aug) $65.45 +34c, Brent (Sep) $67.11 +37c, Diff -$1.66 +63c.

USNG (Aug) $3.42 -4c, UKNG (Aug) 79.85p +1.93p, TTF (Aug) €34.31 +€1.3.

Oil price

Oil is up around 50 cents today but as far as I can see news is at best mixed. Opec+ appear to be on schedule to add another 411/- b/d into the market at their meeting on Sunday.

Last night’s API stats were mixed, crude built modestly (+680/-) against forecasts of a draw of 2.2m whilst gasoline built against the odds by 1.92m b’s and finally there was a big draw in distillates of 3.458m b’s not normally expected at this time of the year but international product stocks are short. Let’s see what today’s EIA stats show. 

Union Jack Oil

Union Jack has announced that following major site upgrades during 2024 and 2025, production has recommenced at the Keddington Oilfield.

During June 2025, Keddington produced a total of 992 barrels of oil over 23 days of timed pumped production averaging 10.4 hours per day with an average flow-rate of 43 barrels per day gross during the period.  The newly installed equipment and facilities are working well and continue to be fine-tuned to optimise production.

Union Jack holds a 55% interest in Keddington.

David Bramhill, Executive Chairman of Union Jack, commented: 

“As expected, current flow rates from Keddington are exhibiting a material increase in oil production to those seen prior to the site upgrades.

“Over 1,450 barrels of high-quality oil have now been produced and sold from Keddington since recommissioning, contributing meaningful additional revenues, complementing our established cash flow from Wressle in the UK and our growth projects in the USA at Moccasin, the Andrews Field and our Mineral Royalty portfolio.”

Good news for UJO that Keddington is back and rates are impressive over the 10 hour period, as Chairman David Bramhill states they expected to see a ‘material increase in oil production to those seen prior to the site upgrades’.

So Keddington adds ‘meaningful additional revenues’ to those from Wressle in the UK and of course success in recent months in the USA at Moccasin, the Andrews Field and in the Mineral Royalty portfolio. In a world of diversifying resources, having the extra production and revenue from Keddington adds a certain something to UJO. 

Hunting

Hunting PLC (LSE: HTG) will host an investor presentation via the Investor Meet Company platform on Wednesday 9 July 2025, covering its H1 2025 Trading Update

The online event will take place at 2:00p.m. (UK) / 8:00a.m. (CST) with Jim Johnson (Chief Executive) and Bruce Ferguson (Finance Director) presenting from the Company. 

Hunting is a global precision engineering group, which provides quality-assured products and services for the energy, aviation, commercial space, defence, medical and power generation sectors.

The presentation is open to all existing and potential shareholders. Questions can be submitted prior to this presentation via the Investor Meet Company dashboard up until 9:00am on Tuesday 8 July 2025 or at any time during the live presentation.

Investors can sign up to Investor Meet Company for free and add to meet Hunting via: 

https://www.investormeetcompany.com/hunting-plc/register-investor

Investors who already follow Hunting PLC on the Investor Meet Company platform will automatically be invited.

Putting these two investor meetings in today as they are important in their own rights. 

Corcel

Corcel Plc (London AIM: CRCL) is pleased to announce that it will host a live investor presentation via Investor Meet Company on Tuesday 15 July 2025 at 14:00 BST.

Investors can sign up to Investor Meet Company for free and register to meet Corcel Plc via: https://www.investormeetcompany.com/corcel-plc/register-investor

The presentation is open to all existing and potential shareholders. Investors who already follow Corcel Plc on the Investor Meet Company platform will automatically be invited.

 And finally…

England play India today in the first day of the second Test match at Edgbaston, winning the toss unsurprisingly Stokes inserted the opposition and as I write India are 15-1.

And the British Lions are playing the Queensland Reds in Brisbane this morning in the second warm-up game on the tour of Australia.