Oil fell as US crude stockpiles rose as China struggles to contain rising Covid cases.

West Texas Intermediate was down 3.5% to trade at $86 a barrel. US crude inventories rose by 3.93 million barrels, according to government data, the highest since July 2021. Meanwhile, mounting virus outbreaks in China are showing the strain on its Covid-zero strategy, with cases in Beijing being the highest Reach status for more than five months.

“The macro data…

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