Oil eases as China lockdowns weigh on demand outlook – Reuters

Oil eases as China lockdowns weigh on demand outlook – Reuters

SINGAPORE, April 29 (Reuters) - Oil edged lower on Friday as China's COVID-19 lockdowns weighed on the outlook for crude demand, although supply disruption fears as Western sanctions curb crude and products exports from Russia underpinned prices.

Brent crude futures dipped 4 cents to $107.55 a barrel by 0040 GMT after rising 2.1% in the previous session. The front-month June contract expires later on Friday. The more active July contract fell 30 cents to $106.96 a barrel.

U.S. West Texas Intermediate crude dropped 49 cents, or 0.5%, to $104.87 a barrel after settling 3.3% higher on Thursday.