WTI Oil Jumps Above $80 As China Scraps Covid Restrictions ...Middle East

The U.S. benchmark oil price rose on Monday evening and early on Tuesday to above $80 per barrel after China announced on Monday a major easing of its Covid travel quarantine rules and after Winter Storm Elliott knocked offline around 1.5 million bpd of refinery capacity in the U.S. Gulf Coast. As of early morning trade in Europe on Tuesday, WTI Crude was up by 0.80% at $80.19. The international benchmark, Brent Crude, was trading up by 0.85% on the day, at $84.63 per barrel.  Oil prices received a major boost late on Monday and early Tuesday…

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