oil prices Soared to a two-month high on Friday on optimism China will ease its Covid-19 restrictions and approval by the Group of Seven advanced economies to cap Russian crude oil prices.

Brent, the benchmark for two-thirds of the world’s oil, was up 4.12 percent at $98.57 a barrel by the close on Friday. West Texas Intermediate, the gauge for US crude, closed up 5.04 percent at $92.61 a barrel.

Oil rallied earlier on more speculation that China, the…

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