Oil tanks as fears over China mount: Crude back at pre-invasion levels


Oil tanks as fears over China mount: Crude back at pre-invasion levels after Beijing cuts interest rate in bid to revive flagging economy

Oil prices skidded to levels last seen before the Ukraine war as China unexpectedly cut interest rates in an attempt to revive its flagging economy.

Brent crude fell by more than 5 per cent to as low as $92.78 a barrel after the central bank in Beijing acted amid further evidence of growth being hobbled by the country’s zero-Covid policy.

Oil topped $130 earlier this year as sanctions were imposed on Russia after…



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