Oil plunged about 7% as China lockdown threatens demand
Oil plunged about 7% as China lockdown threatens demand
International benchmarks for crude oil plunged about 7% on Monday, 28 March 2022 as more cities in China, especially the financial hub of Shanghai enters COVID-19 related lockdown, threatening the near-term demand outlook.
Brent plunged $8.17 or 6.8% to close at $112.48/barrel.
WTI fell $7.94 or 7% to close at $105.96/barrel.