New York (CNN Business) – Oil prices fell sharply Monday as Covid lockdowns in China stoked concerns that the country’s zero-Covid strategy will sap energy demand in the world’s second-largest economy. US oil dropped 5.6% to a two-week low of $96.33 a barrel Monday morning, while Brent, the world benchmark, fell 4.9% to $101.43 a barrel. “The overriding sentiment today is bearish due to the China Covid lockdowns,” Andy Lipow, president of consulting firm Lipow Oil, wrote in an email Monday. Chaoyang, one of the largest districts in China’s capital city Beijing, announced Sunday it will launch mass testing for people who live and work in the district. In a bid to contain an outbreak described
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