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Oil Rebounds From 2022 Lows on China Demand Hopes, Tanker Delays

Started by Epoch-Times-Bot, Dec 08, 2022, 07:45 AM

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Epoch-Times-Bot

Dec 08, 2022, 07:45 AM
Oil Rebounds From 2022 Lows on China Demand Hopes, Tanker Delays

LONDON—Oil rebounded on Thursday after four sessions of decline, boosted by hopes that easing anti-COVID measures in China will revive demand and by signs that some tankers carrying Russian oil have been delayed after a G7 price cap came into effect.
China on Wednesday announced the most sweeping changes to its resolute anti-COVID regime since the pandemic began, while at least 20 oil tankers faced delays in crossing to the Mediterranean from Russia’s Black Sea ports.
Brent crude rose 27 cents, or 0.4 percent, to $77.44 a barrel by 1120 GMT, while U.S. West Texas Intermediate (WTI) crude gained 49 cents, or 0.7 percent, to $72.50....

Source: Oil Rebounds From 2022 Lows on China Demand Hopes, Tanker Delays

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