# Oil holds in sight of recent highs on Chinese demand recovery hopes | Reuters

> Oil slipped on Monday but held near its highest levels of the month as easing COVID restrictions in China raised hopes for a demand recovery. Brent fell $1.08 to $84.20 a barrel intraday.

- Date: 2023-01-16 · published 2023-01-16T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/37952-oil-holds-in-sight-of-recent-highs-on-chinese-demand-recovery-hopes-reuters
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Hopes for Chinese demand recovery underpin crude prices, which affect energy and freight costs for feed supply chains.

## Read by commodity

- BRENT: neutral

## Sources

- reuters.com: https://www.reuters.com/business/energy/oil-dips-hovers-near-2023-highs-china-demand-optimism-2023-01-16/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.