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Crude Reverses Some Earlier Gains

OIL

Crude has reversed some earlier gains on headlines out of China that an economic policy meeting scheduled for Thursday has been postponed because of rising covid cases.

  • Signs of easing restrictions in China of late have been a source of upward momentum for crude markets this week. Oil markets remain poised to the downside against any news of tightening of lockdown policies.
  • Brent FEB 23 up 1.2% at 78.89$/bbl
  • WTI JAN 23 up 0.9% at 73.83$/bbl

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