Oil prices rise despite US inventory hike as China eases Covid lockdowns ChinaPulse.com China News, Data, Media Intelligence and Insights


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By Ahmad Ghaddar LONDON (Reuters) -Oil prices rose on Wednesday, despite a likely rise in U.S. oil stocks, on the easing of Chinese COVID-19 related lockdowns and a possible strike by Norwegian oil workers. Brent crude futures were up $1.01, or 0.8%, at $121.58 a barrel at 0927 GMT. U.S. West Texas Intermediate crude was at $120.62 a barrel, up $1.21, or 1%. “Despite the API report showing builds for crude and oil products, oil prices are higher, supported by expectation of China easing the COVID restrictions, translating...