Oil slips on China demand worries while EU weighs Russia oil ban

Oil prices slipped on Tuesday in a second day of thin trading in Asia, pulled in opposite directions by China’s COVID-19 lockdowns, which could weigh on fuel demand, and prospects for a supply hit from a possible European oil embargo on Russia. Brent crude futures fell 23 cents, or 0.2%, to $107.35 a barrel at 0532 GMT, wiping out gains earlier in the day in trading thinned by holidays in China, Japan and parts of Southeast Asia.