WTI marches towards $75.00 as China-linked demand hopes poke recession woes – by anilpanchal7 Oil WTI China Coronavirus Commodities
buyers to keep the reins, after Friday’s mixed performance.
That said, the risk profile remains firmer amid China’s reopening of the national borders after a three-year halt. On the same line were comments from Guo Shuqing, party secretary of the People’s Bank of China . “Some 2 billion trips are expected this season, nearly double last year's movement and recovering to 70% of 2019 levels, the government says” reported Reuters while conveying China unlockOn the other hand, PBOC’s Shuqing said, “The world’s second-largest economy is expected to quickly rebound because of the country’s optimized Covid-19 response and after its economic policies continue to take effect.” dropped the most in three weeks the previous day, down 0.20% intraday near 103.
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