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Crude Hitting Session Lows on China Covid Headlines

OIL

China COVID Headlines Getting Some Attention

  • Ahead of the cash equity open in the U.S. headlines crossed the wires flagging 7 confirmed cases of the new COVID JN.1 variant in China.
  • Crude oil futures also move to fresh session lows in recent trade on headline after earlier sell off on US rate cut pessimism.
  • Brent FEB 24 down -0.6% at 76.17$/bbl
  • WTI JAN 24 down -0.6% at 71.12$/bbl

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