Oil slides 3% as China lockdowns stoke demand fears

Oil prices tumbled more than 3% on Thursday, as new COVID-19 lockdown measures in China added to worries that high inflation and interest rate hikes are denting fuel demand. Brent crude settled down $3.28 at $92.36 a barrel, a 3.4% drop. U.S. West Texas Intermediate (WTI) crude futures fell $2.94, or 3.3%, to $86.61 per barrel. “Western-world oil demand, as well as China’s, is stagnant, … Continue reading Oil slides 3% as China lockdowns stoke demand fears