China's Covid Resurgence Is Part of the Reason Oil Prices Plummeted From Record Highs

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China's Covid Resurgence Is Part of the Reason Oil Prices Plummeted From Record Highs
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A renewed Covid wave which has caused widespread lockdowns in China is a key development causing oil prices to plummet from record highs, according to analysts.

, which affected companies like Apple supplier Foxconn.

in Ukraine," it's more likely a combination of reasons, according to Ray Attrill, head of foreign exchange strategy at National Australia Bank.

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