Oil
Oil prices fell during early Monday trading, with the barrel of Brent crude down by more than 3%. Today’s losses add to a losing streak initiated earlier in the month, as market expectations continue to shift towards a scenario of lower future demand. The main driver behind this bearish sentiment is the situation in China, where the zero-Covid policy is reducing economic activity in large parts of the country. Without an end in sight for Beijing’s stringent virus-control policies, rarely seen popular protests started appearing in several cities, adding to the negative outlook for the Chinese economy.
