# Oil jumps as China eases COVID curbs in potential boost to demand

> Oil jumped more than 3% after China eased some COVID-19 restrictions, including shorter quarantines for close contacts and removal of airline penalties for infected arrivals. Milder-than-expected US inflation also raised hopes the Federal Reserve would slow rate hikes. Brent rose to about $96 and WTI to about $89.

- Date: 2022-11-11 · published 2022-11-11T12:00:00.000Z
- Category: macro · region China · magnitude medium
- Page: https://feedsoft.ai/events/38851-oil-jumps-as-china-eases-covid-curbs-in-potential-boost-to-demand
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Expected recovery in Chinese demand, the world's top crude importer, supports energy costs for feed producers, though the easing is modest and remains within China's zero-COVID policy.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2021-02-01 | [Analysis: Global fuel prices jump as Asia, U.S. to rev up demand in 2Q](https://feedsoft.ai/events/48814-analysis-global-fuel-prices-jump-as-asia-u-s-to-rev-up-demand-in-2q.md) | +6.9% | +18.8% |
| BRENT | 2020-11-16 | [Oil jumps 4 percent on upbeat COVID-19 vaccine news \| Oil and Gas News \| Al Jazeera](https://feedsoft.ai/events/50318-oil-jumps-4-percent-on-upbeat-covid-19-vaccine-news-oil-and-gas-news-al-jazeera.md) | +5.3% | +18.6% |
| BRENT | 2017-06-30 | [Canadian Dollar Exchange Rates Boosted As GDP Comes In On Forecast And Oil Boosts The CAD](https://feedsoft.ai/events/70739-canadian-dollar-exchange-rates-boosted-as-gdp-comes-in-on-forecast-and-oil.md) | +2.3% | +8.2% |
| BRENT | 2021-08-24 | [The Commodities Feed: USD provides a boost to the complex \| snaps \| ING THINK](https://feedsoft.ai/events/12116-the-commodities-feed-usd-provides-a-boost-to-the-complex-snaps-ing-think.md) | +5.7% | +7.0% |
| BRENT | 2019-10-31 | [Oil Jumps Most in Six Weeks on Economic Data, Easing Weekly Loss - Bloomberg](https://feedsoft.ai/events/56746-oil-jumps-most-in-six-weeks-on-economic-data-easing-weekly-loss-bloomberg.md) | +2.5% | +6.8% |
| WTI | 2021-05-31 | [CAD boosted by jump in oil prices - OFX (CA)](https://feedsoft.ai/events/47335-cad-boosted-by-jump-in-oil-prices-ofx-ca.md) | +4.4% | +10.0% |
| WTI | 2021-02-01 | [Analysis: Global fuel prices jump as Asia, U.S. to rev up demand in 2Q](https://feedsoft.ai/events/48814-analysis-global-fuel-prices-jump-as-asia-u-s-to-rev-up-demand-in-2q.md) | +8.9% | +16.1% |
| WTI | 2020-11-16 | [Oil jumps 4 percent on upbeat COVID-19 vaccine news \| Oil and Gas News \| Al Jazeera](https://feedsoft.ai/events/50318-oil-jumps-4-percent-on-upbeat-covid-19-vaccine-news-oil-and-gas-news-al-jazeera.md) | +5.1% | +17.5% |

## Sources

- cnbc.com: https://www.cnbc.com/2022/11/11/oil-crawls-higher-on-us-hopes-but-covid-rise-in-china-caps-gains.html

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