Expectations of rising fuel demand in China helped Brent sustain its upward momentum on Monday, pushing the price back up to where it closed at the end of 2022 and wiping out the losses incurred in the orst two weeks of the new year. Data analytics orm Kayrros said in a note that the country’s demand for jet fuel nearly doubled overnight after the Beijing government relaxed its strict Covid-19 policies. But Kayrros also warned that “it will take more than the lifting of Covid restrictions to revive China’s sluggish economy. ” The Chinese real estate sector has not yet responded to government incentives, it said.
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