• Oil prices edge higher despite the West's Russian price cap talks and more Chinese lockdowns

    8 days ago - By Business Insider

    A Tesoro oil refinery in Los Angeles. Lucy Nicholson/Reuters
    Oil benchmarks crept higher Friday, with Brent crude at $86.68 a barrel and WTI at $79.76.
    Discussions about western countries capping Russian crude at between $65 and $70 a barrel continue.
    China reported a record number of COVID-19 infections on Friday, sparking fears of slowing demand.
    Oil prices edged higher on low trading volume Friday even as western countries continued their discussions about a price cap on Russian crude and China enforced further lockdown measures. Brent crude traded 1.7% higher at $86.68 a barrel at last...
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