Oil futures ease 1% as China widens COVID-19 curbs – The Peninsula

Oil futures ease 1% as China widens COVID-19 curbs – The Peninsula

Doha: Oil prices eased about 1 percent on Friday after top crude importer China widened its COVID-19 curbs. The crude benchmarks were poised for a weekly gain on supply concerns and surprisingly strong economic data. Brent futures fell $1.19 to settle at $95.77 a barrel.

US WTI crude fell $1.18 to $87.90. For the week, Brent rose about 2.4 percent  and WTI was up about 3.4 percent . Chinese cities ramped up COVID-19 curbs on Thursday, sealing up buildings and locking down districts after China registered 1,506 new coronavirus infections on Oct. 27, the National Health Commission said, up from 1,264 new cases a day earlier.