Crude oil sees mild recovery in early Asia on Friday following a slump yesterday led by energy demand concerns. WTI oil futures for August was higher by 0.85% at $95.59 a barrel after shedding more than 5% during the previous session. Besides, rising crude and gasoline stockpiles and global inflation risks further added to demand woes. Fresh Covid-related curbs in several parts of China and the dollars sharp uptick also weighed on oil prices. The growing outbreak in the region has fuelled fears the commercial hub is headed back into a mass lockdown, just weeks after its residents emerged from two months of home confinement. Powered by Commodity Insights
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