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Oil Falls as China COVID-19 Spike Dampens Demand Outlook

Started by Epoch-Times-Bot, Dec 29, 2022, 08:00 AM

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Epoch-Times-Bot

Dec 29, 2022, 08:00 AM
Oil Falls as China COVID-19 Spike Dampens Demand Outlook

LONDON—Oil prices fell by over 2 percent on Thursday as surging COVID-19 cases in China dimmed hopes of a recovery in fuel demand for the world’s largest crude oil importer.
Brent futures for February fell $1.67, or 2.01 percent, to $81.59 a barrel by 0953 GMT. The more active March contract fell 1.79 percent to $82.49/bbl.
U.S. West Texas Intermediate crude futures fell $1.62, or 2.05 percent, to $77.34 a barrel.
The scale of the latest Chinese COVID-19 outbreak and doubts over official data prompted some countries to enact new travel rules on Chinese visitors, even as China began dismantling the world’s strictest COVID-19 regime of lockdowns and testing....

Source: Oil Falls as China COVID-19 Spike Dampens Demand Outlook

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Aug 28, 2024, 01:36 AM
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