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Asharq Al-Awsat

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Asharq Al-Awsat

Oil Rebounds on Optimism over China's Revamp of COVID Protocols

China Oil United States Economy Pandemic

Pump Jacks are seen at sunrise near Bakersfield, California October 14, 2014. REUTERS/Lucy Nicholson

Oil prices rebounded on Thursday amid optimism over China's easing of anti-COVID measures, recouping losses after slumping to the lowest levels so far this year in the previous session.

Brent crude futures rose $1 or 1.3% at $78.17 per barrel by 0750 GMT, while US West Texas Intermediate (WTI) crude futures gained $1 or 1.4% to $73.01 per barrel.

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