News Snapshot:
U.S. oil prices advanced Wednesday, lifting West Texas Intermediate futures to around $82 a barrel, as the International Energy Agency (IEA) said China's Covid reopening will lead to record oil demand. After a slow start, oil stocks gathered momentum early Wednesday. X On Wednesday, the IEA estimated the recent easing of Covid restrictions in China will boost 2023 global oil demand to record highs. The report from the IEA follows similar forecasts from OPEC — the Organization of Petroleum Exporting Countries. The news sent U.S. benchmark oil and U.K. benchmark Brent crude to their highest levels since early December. On...
