Oil rebounds as China pledges to revive consumption ...News

Washington's push to replenish reserves is helping move prices higher Global crude oil prices are on the rise on Monday, following China’s call to restore consumption after abandoning its zero-Covid policy and US plans to start refilling the nation’s strategic petroleum reserves. Global benchmark Brent rose 0.9% for February delivery, to $79.75 per barrel. US West Texas Intermediate for January settlement also gained 0.9% to $74.97 per barrel after losing almost 4% last week. Meanwhile, more active February futures advanced 1% to $75.18. Last week, Chinese authorities set their economic policy agenda for 2023, cal

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