Tortoise’s Matt Sallee in Bloomberg

Oil Rises With China Easing Lockdowns, US Mulling SPR Refill

  • IEA lowers global demand forecast from previous estimate
  • US crude stockpiles fell 2.44 million barrels last week: EIA

Oil held onto gains, supported by the prospect of looser lockdown restrictions in a Chinese megacity and the White House contemplating buying back oil to refill strategic reserves.

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