Oil Tumbles About 6 As China COVID Lockdowns Weigh BW Businessworld


Source: businessworld.in businessworld.in

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Global financial markets have been spooked by concerns over interest rate hikes and recession worries as tighter and wider COVID-19 lockdowns in China led to slower export growth in the world's No. 2 economy in April Photo Credit : REUTERS/Adrees Latif 1648757552_ZQa8RY_Oil_Reserves.jpg 10 May, 2022 by BW Online Bureau Print this article Font size - 16 + Oil prices sank about 6 per cent on Monday alongside equities, as continued coronavirus lockdowns in China, the top oil importer, fed worries about the demand outlook. Brent crude fell $6.45, or 5.7 per cent, to settle at $105.94 a barrel. U.S. West...