Oil falls as lockdowns dampen demand in China
Producers are facing unparalleled challenges balancing supply and demand equations involving vaccine rollouts vs lockdowns
15 January 2021 - 12:45
London — Oil prices fell on Friday as concerns about Chinese cities in lockdown due to coronavirus outbreaks tempered a rally driven by strong import data from the world’s biggest crude importer and US plans for a large stimulus package.
Brent was down 93c, or 1.7%, at $55.49 by 9.50am GMT, after gaining 0.6% on Thursday. US West Texas Intermediate (WTI) crude was down 71c, or 1.3%, at $52.86 a barrel, having risen more than 1% the previous session...
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