Oil jumps on China easing Covid restrictions, Russia price cap

London (AFP) Dec 5, 2022

World oil prices rallied Monday after more easing of strict Covid containment measures in China and as a price cap on Russian crude agreed by the EU, G7 and Australia came into force. Main contracts Brent North Sea crude and WTI advanced more than two percent, also after OPEC and its Russia-led allies decided at a weekend meeting to maintain oil output levels. European and US stock marke