This is the development of oil prices at the beginning of the week

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 Crude oil trade eased slightly earlier in the week as supplies resumed running in Libya and Kazakhstan.


In the Asian session, Brent crude futures traded steady at around $ 81.85 a barrel, while US WTI traded slightly changed at $ 79 a barrel.


Both benchmarks have been boosted to rise to two-month highs in the past week following production disruptions in Libya and Kazakhstan.



However in the latest development, production by Libya reportedly increased again to 900,000 barrels a day after maintenance was completed. Meanwhile some production in Kazakhstan has also begun to recover following unrest that blocked supplies last week.


Meanwhile, Covid-19’s zero-tolerance approach by China has caused investors little concern if it could affect demand from the world’s largest oil importer.


Most recently, China began a large-scale testing campaign of the northern port city of Tianjin after two community cases were confirmed as Omicron, a very simple and fast-spreading variant.

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