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Oil futures bounced early Tuesday, with the global benchmark pushing back above $100 a barrel as China somewhat eased its COVID-19 lockdown of Shanghai.
Price action
Market drivers
The recent pullback in crude prices, which on Friday saw a second consecutive weekly fall, has been blamed in part on a China’s lockdown of Shanghai, with a population of more than 25 million due to a Covid outbreak. Reports of shortages of food and other necessities have been rising as the strict lockdown continued.
Shanghai…
