The rally in crude comes after both Brent and West Texas Intermediate fell more than 8% last week on worries about a global economic downturn.
Oil prices rebounded from the previous week’s sharp losses with traders betting on increased demand as Beijing continued to ease COVID-19 restrictions and open up the world’s second biggest economy.
“Oil... Oil prices rebounded from the previous week’s sharp losses with traders betting on increased demand as Beijing continued to ease COVID-19 restrictions and open up the world’s second biggest economy. “Oil prices are finally catching a flyer over the China border reopening as the removal of local restrictions, inter/intra-provincial mobility normalization, lifting of border restrictions between China/HK/Macau and international travel reopening are strong tailwinds for oil markets,” said Stephen Innes, managing partner at SPI Asset Management.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
China eyes petroyuan to weaken dollar as oil producers rally to BeijingChina looks to weaken US dollar with petroyuan as oil producers rally to Beijing, and Russia has 'become an Asian nation,' analyst says
Consulte Mais informação »
Oil nudges higher after China opens borders, lifts fuel demand outlookOil prices edged up on Monday, a day after travellers streamed into China following a reopening of borders that lifted the fuel demand outlook and partly offset concerns of global recession.
Consulte Mais informação »
Oil rises on demand optimism as China borders reopenOil prices climbed on Monday as the borders reopened in China, the world's top crude importer, boosting the outlook for fuel demand growth and offsetting global recession concerns.
Consulte Mais informação »
China issues second set of 2023 oil import quotas, up from 2022China issued a second batch of 2023 crude oil import quotas, according to two sources with knowledge of the matter and documents reviewed by Reuters on Monday, raising the total for this year by 20% compared to the same time last year.
Consulte Mais informação »
Tesla owners in China protest against surprise price cuts they missedHundreds of Tesla owners gathered at the automaker's showrooms and distribution centres in China over the weekend, demanding rebates and credit after sudden price cuts they said meant they had overpaid for electric cars they bought earlier.
Consulte Mais informação »
Texas oil worker dead after falling into pit in North DakotaDaniel Navarrete, 42, of New Braunfels, Texas, fell through an open hatch Thursday in a pit at a Nabors Industries rig north of New Town, according to Mountrail County Sheriff Corey Bristol.
Consulte Mais informação »