Chinese Lockdowns, US Oil Stocks Frighten Markets

摘要

More mobility restrictions in China and a larger-than-expected buildup in US crude stocks sent a tremor through oil markets on Friday, wiping out most of the week’s gains. Confronted with the threat of another Covid-19 outbreak, Chinese officials imposed new restrictions on people’s movements, including a large swath of Beijing’s population, which instantly revived worries about near-term demand from the world’s largest oil importer.