Oil Prices Shed Gains As China Covid Cases Soar

After Tuesday’s gains on demand optimism over Beijing’s easing of COVID travel restrictions, oil prices reversed course early on Wednesday, edging lower on fears that surging virus cases would hinder a demand uptick.  Earlier this week, Beijing said it would ease travel restrictions for visitors to China, ending quarantine and testing requirements and opening its borders, allowing international travel to resume beginning on January 8. The announcement has sparked a run on bookings for overseas travel, according to the BBC. …