Brent Crude to rise above $100 per barrel - will Melbana be bought?

Turns out that the one business it does pay to be in right now...is the oil business.

Oil prices are on track to reach $100 a barrel this month for the first time in 2023 after surging by almost 30% since June, after Russian and Saudi Arabian production cuts and rising demand from China.

Brent crude, the oil price benchmark, rose to a 10-month high last week of almost $94 a barrel, up from $72 a barrel at its lowest point in June – heading for its biggest quarterly increase since Russia’s invasion of Ukraine.The lighter US crude, West Texas Intermediate, has climbed from $67 a barrel to $90 a barrel over the same period. Both benchmarks were up by about 4% on the week.

The world is on track to over $100 per barrel, and Melbana Energy is potentially in the right place at the right time. Could this prompt a takeover bid from some of the bigger oil companies?