News Snapshot:
Oil down 2% as China COVID-19 cases trigger clampdowns * Shanghai reports first locally transmitted cases in 2 months * Focus on EIA inventory data due Friday * Vaccine-fueled recovery likely several months away (Updates prices) By Noah Browning LONDON, Jan 22 (Reuters) - Oil prices fell on Friday, retreating further from 11-month highs hit last week, weighed down by worries that new pandemic restrictions in China will curb fuel demand in the world's biggest oil importer. Brent crude futures fell $1.31, or 2.3%, to $54.79 a barrel by 1230 GMT, after a 2 cent gain on Thursday. U.S. West...
