News Snapshot:
In this news, we discuss the Oil prices drop as China COVID-19 cases trigger crackdown . MELBOURNE / SINGAPORE (Reuters) – Oil prices fell on Friday, retreating further from 11-month highs reached last week, weighed down by fears that new pandemic restrictions in China will reduce fuel demand from the world’s largest importer of oil. U.S. West Texas Intermediate (WTI) crude futures fell 53 cents, or 1%, to $ 52.60 a barrel at 4:45 a.m. GMT, after slipping 18 cents on Thursday. Brent futures fell 45 cents, or 0.8%, to $ 55.65 a barrel, erasing a gain of 2 cents...
