Crude oil prices tumbled to its lowest level in 11 months on Monday amid rising COVID cases in China and ensuing lockdowns that escalated worries of increased economic disruptions in the worlds largest crude importer. China witnessed a record number of coronavirus cases for the third consecutive day on Saturday, with infections surpassing 35,000 despite large-scale lockdowns under the stringent Zero-Covid policy, triggering rare protests and clashes with the police. WTI crude oil futures dropped down 2.6% to $74.27, a level not witnessed since January, early this year. Powered by Commodity Insights
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