Oil slides 7% on concerns of weaker Chinese demand with Covid-19 lockdowns

March 29, 2022 7:30 AM

NEW YORK (REUTERS) – Oil prices tumbled about 7 per cent on Monday (March 28) after China’s financial hub of Shanghai launched a lockdown to curb a surge in Covid-19 infections, prompting renewed fears of demand destruction.

Source : https://www.straitstimes.com/business/companies-markets/oil-slides-7-on-concerns-of-weaker-chinese-demand-with-covid-19-lockdowns