Oil drops over China COVID lockdowns concerns and Fed rate hikes cause demand worries


Source: mobi-me.net mobi-me.net

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- Oil slipped on Monday as China tightened lockdowns and conducted mass-testing to control a COVID-19 outbreak. - The Federal Reserve's signal that it may raise rates quickly prompted fears of a hit to economic growth. - Brent crude oil fell 4.76% to $101.10 per barrel, while WTI crude futures slid 4.78% to $97.18 a barrel Oil dropped for a second day on Monday, as China's efforts to contain an outbreak of COVID-19 and the Federal Reserve's indication that it could raise interest rates aggressively prompted concerns about demand. Brent crude oil slid 4.76% to $101.10 a barrel and WTI...