Why China’s Reopening Isn’t Boosting Global Oil Markets Yet
- Futures in London, New York lost almost 10% in early sessions
- Risks from China’s reopening, global slowdown closely watched
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It’s been a painful start to the new year for oil bulls.
While China’s emergence from Covid Zero spurred talk of a demand boom from some of the market’s biggest names, a significant resurgence in energy consumption remains weeks, if not months away.