Oil slides amid Chinese restrictions
Oil is off around 3% on the day, with Brent back below USD 100 and hitting its lowest level in almost four weeks. There has been a big effort to alleviate the pressures in the oil market in recent weeks which has no doubt helped but it's the lockdowns in China that are driving the latest declines.
The country's zero-Covid policy is naturally having a dampening effect on demand which is aiding the rebalancing efforts.
Apr 11, 2022
by Craig Erlam
