Oil prices were mixed today after both contracts initially traded lower. \u201cThe word on the street is there\u2019s a rumor that OPEC+ is already starting to float the idea of a production cut on Sunday,\u201d said Matt Smith, lead oil analyst at Kpler. \u201cThat\u2019s helped reverse losses that were caused overnight by Chinese protests\u201d. The rumors of a possible cut outweighed an earlier sell-off built on the weak outlook out of China, where hundreds of demonstrators and police clashed on Sunday over strict COVID restrictions that have limited free movement among millions of residents. China has stuck with President Xi Jinping’s zero-COVID policy even as much of the world has lifted most restrictions. WTI traded up $.96 or 1.3% to close at $77.24. Brent traded down $.44 or -.5% to close at $83.19.<\/p>\n\n\n\n
Oil prices were mixed today after both contracts initially traded lower.<\/p>\n","protected":false},"author":2,"featured_media":6111,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[26],"tags":[],"class_list":["post-8061","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-petroleum-daily"],"yoast_head":"\n