Oil eases as China lockdowns weigh on demand outlook

SINGAPORE: Oil edged lower on Friday as China’s COVID-19 lockdowns weighed on the outlook for crude demand, although supply disruption fears as Western sanctions curb crude and products exports from Russia underpinned prices.

Brent crude futures dipped 4 cents to $107.55 a barrel by 0040 GMT after rising 2.1% in the previous session. The front-month June contract expires later on Friday. The more active July contract fell 30 cents to $106.96 a barrel.