Oil prices climb after OPEC+ keeps output cut targets, China eases Covid curbs
MELBOURNE: Oil prices rose as much as 2% on Monday after OPEC+ nations held their output targets steady ahead of a European Union ban and a price cap kicking in on Russian crude.
At the same time, in a positive sign for fuel demand, more Chinese cities eased Covid-19 curbs over the weekend, though a patchwork easing in policies sowed confusion across the country on Monday.
Brent crude futures were last up 72 cents, or 0.8%, to $86.29 a barrel at 0430 GMT, while US West Texas Intermediate (WTI) crude futures gained 70 cents, or 0.9%, to $80.68 a barrel.
