Oil prices rise as China eases coronavirus restrictions

Market data showed that oil prices rose by 2% on Friday evening due to the decision of the Chinese authorities to ease restrictions to combat the coronavirus epidemic.

The data show that futures prices for Brent crude for January next year recorded an increase of 1.96% as of 21:04 Moscow time and reached $95.51 per barrel.

Prices of futures contracts for West Texas Intermediate (WTI) oil rose by 2.29% in December and reached $88.45 per barrel.

Despite this, analysts note that by the end of the week, oil prices could fall by 3-4%, as markets were worried about China’s “zero tolerance” policy for the coronavirus.

On Friday, China decided to lift some restrictions related to the Corona virus, notably lifting a rule requiring the suspension of international flights if people with the virus are found on board an aircraft, relaxing the Corona virus screening system when boarding a flight, and reducing the quarantine period for arrivals. from abroad.

Source: Russian agency Prime.