News Snapshot:
Oil prices rise on positive Covid news from China London — Oil prices rose on Wednesday on expectations that easing Covid-19 restrictions in China will boost demand and as supply concerns grew. Brent crude was up $1.24, or 1.1%, at $113.17 a barrel at 09.21am GMT, while West Texas Intermediate climbed $1.69, or 1.5%, to $114.09 a barrel, reversing some of the previous session’s losses. Hopes of further lockdown easing in China boosted expectations for a recovery in demand. The country’s authorities allowed 864 of Shanghai’s financial institutions to resume work, sources said on Wednesday, a day after the Chinese...
