Free Trial
EURIBOR

EURIBOR FIX

REFINING

BP Rotterdam Remains Offline

USD

AUDUSD makes an attempt towards 0.6600

USD

USDJPY extends higher

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access

China’s Covid Curbs Return in Dent to Oil Demand

OIL

Covid-19 cases have been rising in several regions and the government re-introduced measures to curb infections, increasing Chinese fuel demand concerns.

  • China’s Covid-19 cases have been rising to the highest level since April in the last week to 26,824 local infections in the past 24 hours, data from the National Health Commission show.
  • The government introduced several new restrictions to reduce spreading the virus.
  • In Beijing, Haidan, Dongcheng and Xicheng schools have closed. In Guangzhou, the government ordered a five-day lockdown for its most populous district and suspended dine-in services and several entertainment facilities.
  • The announcements also come after Beijing declared its most significant easing of coronavirus measures to date on 11 Nov, including reduced compulsory quarantine times for international arrivals.
  • China’s strict Covid Zero strategy has been weighing on the country’s economic growth projections this year. New restrictions will further increase concerns over China's crude oil and gas demand.
150 words

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.

Covid-19 cases have been rising in several regions and the government re-introduced measures to curb infections, increasing Chinese fuel demand concerns.

  • China’s Covid-19 cases have been rising to the highest level since April in the last week to 26,824 local infections in the past 24 hours, data from the National Health Commission show.
  • The government introduced several new restrictions to reduce spreading the virus.
  • In Beijing, Haidan, Dongcheng and Xicheng schools have closed. In Guangzhou, the government ordered a five-day lockdown for its most populous district and suspended dine-in services and several entertainment facilities.
  • The announcements also come after Beijing declared its most significant easing of coronavirus measures to date on 11 Nov, including reduced compulsory quarantine times for international arrivals.
  • China’s strict Covid Zero strategy has been weighing on the country’s economic growth projections this year. New restrictions will further increase concerns over China's crude oil and gas demand.