Oil prices were higher today on expectations of a lessening of Chinas strict Covid policy, especially as recent protests have emerged. The PRC plans to speed up Covid vaccinations for elderly people as one key stumbling block to eliminating the zero COVID policy. “The prospect of a return to normality, in an economy that is the world’s largest oil importer, was enough to make oil prices jump in the first significant price rebound of the last two weeks,” said ActivTrades analyst Ricardo Evangelista. Also helping prices is the weakening dollar which has been coming off of 20-year highs. Meanwhile, five OPEC sources have said the group is likely to keep output unchanged. WTI traded up $.96 or 1.2% to close at $78.20. Brent traded down $.16 or -.2% to close at $83.03.<\/p>\n\n\n\n
Oil prices were higher today on expectations of a lessening of Chinas strict Covid policy<\/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-8064","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-petroleum-daily"],"yoast_head":"\n