Oil eased on rising US dollar and COVID-19 concerns

International benchmarks for crude oil settled lower on Tuesday, 5 April 2022 as a stronger US dollar coupled with the COVID-19 lockdown in China pressured the market. However, the decreases are very much limited. Investors remain concerned that Western countries would implement a fresh round of sanctions on Russia, including its crude oil.

Brent fell 89 cents to close at $106.64/barrel. 

WTI fell $1.32 to close at $101.96/barrel.