# Oil settles up on Shanghai lockdown easing, Russian production cuts

> 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.

- Date: 2022-04-12 · published 2022-04-12T12:00:00.000Z
- Category: market · region Global · magnitude medium
- Page: https://feedsoft.ai/events/42015-oil-settles-up-on-shanghai-lockdown-easing-russian-production-cuts
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Easing Chinese lockdowns improve demand outlook while Russian output cuts tighten supply, supporting higher energy costs for feed and freight.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Sources

- reuters.com: https://www.reuters.com/business/energy/oil-opens-higher-opec-warns-tight-supply-russian-sanctions-loom-2022-04-12/

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