Oil set for best run this year on China’s vow, Libyan disruption
Oil headed for the best run of gains this year as China vowed to repair the economic damage caused by a spate of lockdowns to combat the spread of Covid-19, and crude supplies from Libya were disrupted.
by bloomberg news
Global benchmark crude Brent rose for a fifth day, shedding early losses to trade near USD 114 a barrel. The impact of the pandemic on China’s economy is short term and normal conditions will be “rapidly restored” after the outbreak is contained, a spokesperson for the top economic planner said on Tuesday, a day after the central bank moved to aid individuals and small businesses.
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