Singapore, November 29 (QNA) – Oil jumped on Tuesday, buoyed by hopes that China would relax its COVID-19 controls after rare protests against the country’s zero-COVID strategy over the weekend in big Chinese cities.
Brent crude futures advanced $1.4, or 1.7%, and traded at $84.57 a barrel.
US West Texas Intermediate (WTI) crude futures rose $1.17, or 1.5%, to $78.39 a barrel.
Both benchmarks gained more than $2 earlier in the day.
Oil prices are also supported by the expectation that major oil producers would adjust their production plans at the upcoming meeting.
The Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia, known as OPEC+, are set to hold a meeting on Dec. 4. (QNA)
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