Brent crude futures advanced 61 cents, or 0.8%, to $80.40 a barrel at 0124 GMT, adding to a 76 cent gain in the previous session.from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/nju9GML
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Crude oil prices rose on the news of China's Covid-19 surge, but the uncertain economic impact of the outbreak has limited the gains. Oil prices are closely tied to economic activity, as energy demand typically increases as economies grow and more goods are produced and transported. The Covid-19 outbreak in China, the world's second-largest oil consumer, has raised concerns about the potential impact on the country's economic growth and energy demand.
It is important to note that the oil market is highly dynamic and subject to a range of factors that can influence supply and demand. In addition to economic conditions, oil prices can be impacted by geopolitical events, changes in production levels, and other market forces.
It is always a good idea to carefully consider the risks and uncertainties in the oil market before making any investment decisions. It is also important to consult with a financial advisor or professional before making any investment decisions.
