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Brent rose $6.16 or 6.3% to $104.64 and WTI gained 6.7% to $100.60 after both benchmarks fell about 4% on Monday. The rebound followed easing of Shanghai lockdowns and reports of Russian production cuts.
Easing Chinese lockdowns improve demand outlook while Russian output cuts tighten supply, supporting higher energy costs for feed and freight.
reuters.comLaura SanicolaApr 12, 2022Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
