Oil prices rise on weaker US dollar as China doubles down on zero-Covid policy – The National

Oil prices rise on weaker US dollar as China doubles down on zero-Covid policy – The National

Oil prices rose in early trading on Monday on a weaker US dollar, despite signs that China would most probably continue with its zero-Covid policy, which has battered global supply chains.

Brent, the benchmark for two thirds of the world’s oil, was trading 0.89 per cent higher at $92.45 a barrel at 11.19am UAE time.

West Texas Intermediate, the gauge that tracks US crude, was up nearly 1 per cent at $86.37 a barrel.