Oil Falls as China Widens COVID-19 Curbs

[Epoch-Times-Bot]

Oil Falls as China Widens COVID-19 Curbs

LONDON—Oil prices fell on Friday after top crude importer China widened its COVID-19 curbs, though benchmarks were poised for a weekly gain on supply concerns and surprisingly positive economic data.
Brent crude futures dropped 50 cents, or 0.5 percent, to $96.46 a barrel by 1047 GMT, having climbed by 1.3 percent in the previous session. U.S. West Texas Intermediate (WTI) crude futures were down 78 cents, or 0.9 percent, at $88.30.
Both benchmarks, however, were on course for a weekly rise, with Brent heading for a gain of about 3 percent and WTI about 4 percent.
Friday’s declines came after Chinese cities ramped up COVID-19 curbs on Thursday, sealing up buildings and locking down districts in a scramble to halt widening outbreaks....

Source: Oil Falls as China Widens COVID-19 Curbs

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