Oil prices rose more than 2% during trade as restrictions imposed due to the outbreak in China were relaxed. It has been reported DEA News.
March futures for Brent crude rose 2.53% to $80.56 a barrel, while February futures for WTI rose 2.87% to $75.89, according to the agency.
Previously reportedSince the start of trade on January 9, world oil prices have grown.
Since the beginning of December 2022, Chinese authorities have begun to gradually ease the coronavirus restrictions, which have been among the strictest in the world for three years. Against this background, oil prices began to rise as there was hope for an increase in fuel demand.
January 6 Bloomberg cites information from traders WroteChina usually buys crude oil that is shipped to Europe. According to the agency, Beijing has already purchased 5 million barrels, mainly raw materials, from Kazakhstan. Also, Chinese oil trader Unipec bought at least 2 million barrels of Norwegian oil Johan Sverdrup for loading in January 2023.