Oil up for 4th day as supply fears outweigh China lockdown – Gulf Insider


Oil prices rose for a fourth day on Friday as fears over Russian supply disruption outweighed the impact of COVID-19 lockdowns in China, the world’s biggest crude importer, Reuters reports.

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Brent crude futures rose by $2.21, or 2.1 percent, to $109.80 a barrel by 1358 GMT after gaining 2.1 percent in the previous session.

Oil prices have remained volatile with China showing no signs of easing lockdown measures despite the impact on its economy and global supply chains.

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Works as an in-house Writer at Gulf Tech Plus and focuses on the latest smart consumer electronics. Closely follows the latest trends in consumer IoT and how it affects our daily lives. You can follow him on Facebook, Instagram & YouTube.

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