Oil falls as Druzhba pipeline reopens, China COVID worries stay at the fore

Published on 16 Nov 2022 on Reuters via Yahoo Finance

Oil falls as Druzhba pipeline reopens, China COVID worries stay at the fore

By Shariq Khan

BENGALURU (Reuters) -Oil prices settled more than a dollar lower on Wednesday after Russian oil shipments via the Druzhba pipeline to Hungary restarted and as rising COVID-19 cases in China weighed on sentiment.

Brent crude futures settled a dollar lower at $92.86 a barrel, down 1.1%. U.S. West Texas Intermediate (WTI) crude futures slid by $1.33, or 1.5%, to settle at $85.59 a barrel.

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