oil prices rebounded on Thursday after two straight days of heavy losses amid rising Covid-19 cases in top crude oil importer China and growing concerns over a global economic slowdown.

Brent, the benchmark for two-thirds of the world’s oil, was up 1.59 percent at $79.23 a barrel by 9pm UAE time, while West Texas Intermediate, the gauge that measures US crude, was up 1.89 percent rose to $74.22 a barrel.

Both benchmarks fell more than 5 percent on Wednesday after falling more than 4 percent…

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