Oil jumped above $100/barrel after Shanghai eased lockdown measures

International benchmarks for crude oil rose sharply on Tuesday, 12 April 2022 after the Chinese authorities loosen the COVID-19 containment measures in Shanghai, opening expectations for improving demand outlook ahead. Meanwhile, OPEC warned it is impossible to replace the Russian supply losses. 

Brent rose $6.16 or 6.3% to close at $104.64/barrel.

WTI jumped $6.31 or 6.7% to close at $100.60/barrel.