(Bloomberg) – Oil slid as China’s renewed commitment to strict Covid-19 guidelines overshadowed a global market backdrop of shrinking fuel stocks.

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Brent futures traded near $98 a barrel as China reiterated its commitment to its Covid-Zero strategy, including demand-dampening moves and lockdowns. Despite prices falling on Tuesday, oil is struggling to find direction as trading volumes are lackluster, making futures particularly vulnerable to macro markets…

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