Oil dipped slightly as partial lockdown in Shanghai threatens demand
Oil dipped slightly as partial lockdown in Shanghai threatens demand
International benchmarks for crude oil inched slightly lower on Thursday, 9 June 2022 after part of Shanghai entered lockdown in a flare-up of new COVID-19 infection cases that threatens the demand recovery. However, strong demand for refined petroleum product continues to support the crude market.
Brent loses 51 cents to settle at $123.07/barrel.
WTI slipped 60 cents to close at $121.51/barrel.