Oil prices are seen extending overnight gains in early Asia on Friday but is all set for a weekly decline of around 3.5% amid persistent demand concerns with global central banks on aggressive tightening mode. Meanwhile, adding to demand woes, China, a top consumer, extended a lockdown for most of its more than 21 million residents, while millions more in other parts of China were urged not to travel during upcoming holidays. However oil prices are recovering on Friday supported by U.S. Energy Information Administration that forecast slightly higher demand. WTI oil futures are higher by 0.25% at $83.75 a barrel. Powered by Commodity Insights
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