Oil Prices Rise on Hopes for China Demand Boost
12.29.2022 By TankTerminals.com - NEWS

December 29, 2022 [CNBC] – Oil prices climbed on Wednesday as markets were optimistic about fuel demand recovery as China continues to ease its Covid restrictions.

 

Brent futures for February delivery rose 31 cents to $84.64 a barrel, a 0.4% gain, by 0117 GMT. U.S. crude advanced 22 cents, or 0.3%, to $79.75 per barrel.

Amid the optimistic market mood both benchmarks hit their highest level in three weeks on Tuesday.

Oil prices climbed on Wednesday as markets were optimistic about fuel demand recovery as China continues to ease its Covid restrictions.

Brent futures
for February delivery rose 31 cents to $84.64 a barrel, a 0.4% gain, by 0117 GMT. U.S. crude advanced 22 cents, or 0.3%, to $79.75 per barrel. Amid the optimistic market mood both benchmarks hit their highest level in three weeks on Tuesday.

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