Oil prices rise, building on gains in the previous session as China's demand outlook improves
Oil prices rose, building on gains in the previous session as China's demand outlook improves and concerns rise over the impact of sanctions on Russian supply.
Top oil importer China is reopening its economy after the end of strict Covid-19 curbs, boosting optimism that demand for fuel will grow in 2023. The US Energy Information Administration said the upcoming EU ban on seaborne imports of petroleum products from Russia on February 5 could be more disruptive than the EU ban on seaborne imports of crude oil from Russia implemented in December 2022.Gold rises before US inflation announcement
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