An oil tanker is loaded at an oil refinery and oil terminal in Saudi Arabia. File photo: REUTERS/AHMED JADALLAH
Brent crude futures rose $1.12 or 1% to $113.67 a barrel at 9.12am GMT, while US West Texas Intermediate crude futures climbed 96c, or 0.9%, to $111.24 a barrel, adding to last week’s small gains for both contracts. Analysts said despite fears about soaring fuel prices potentially denting demand, mobility data from TomTom and Google had climbed in recent weeks, showing more people were on the roads in places like the US.
Market gains have been capped however by concerns about China’s efforts to crush Covid-19 with lockdowns, even with Shanghai due to reopen on June 1.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Ireland Ireland Latest News, Ireland Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Business Maverick: China’s Covid Zero policy is an anchor on commodities pricesIndustrial commodities prices in China have regained some of their poise after Shanghai issued a road map for opening up and the central bank cut interest rates on long-term loans. The monetary easing on Friday looks to have been aimed at the embattled housing market in particular, which would be helpful to metals demand.
Source: dailymaverick - 🏆 3. / 84 Read more »
Families continue to struggle as prices of basic necessities rise - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.Many families around the country are struggling to keep their heads above water as prices of basic necessities continue to rise amid the lingering effects of the COVID-19 pandemic. If govt stop wasting money, this need not be the case... No - the effects of the MYANC decisions. Let's clearly understand what kind caused the problems. Let's bring the hate to them Government does not care, all they care about is cuba... Everything cuba.
Source: SABCNews - 🏆 37. / 51 Read more »