NNA - Oil prices rose to three-week highs on Tuesday as China's latest easing of COVID-19 restrictions spurred fuel demand hopes, while concerns that winter storms across the United States are affecting energy production continued to support prices.
Brent crude was up 52 cents, or 0.6%, at $84.44 a barrel by 0712 GMT, while U.S. West Texas Intermediate crude was at $80.04 a barrel, up 48 cents, or 0.6%. They hit their highest since Dec. 5 earlier in the session.
British and U.S. markets were closed on Monday for the Christmas holiday.
China will end its quarantine requirements for inbound travellers starting on Jan. 8, the National Health Commission said on Monday, dropping a rule in place since the start of the pandemic three years ago. That raised optimism of higher demand from the top crude oil importer.—Reuters
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