China’s snap lockdown of 26m residents in Shanghai has dented Asian shares and cooled the rise in Brent crude oil prices.
(Picture: AFP via Getty Images)A snap lockdown of 26 million residents in Shanghai took the heat out of a seemingly inexorable rise in oil prices today, sending Brent crude down more than 3%.
The two-stage lockdown in the Chinese city involves the closing of bridges and tunnels, and the restriction of traffic to contain COVID-19 cases in a region regarded as central to the global economy.
