Brent, WTI Prices Jump by 2% 

Brent, WTI Prices Jump by 2% 
Brent, WTI Prices Jump by 2% 

Oil prices jumped more than 2% on Friday after health authorities in China, the top global crude importer, eased some of the country's heavy Covid curbs.
Brent crude futures rose $2.39, or 2.6%, to $96.06 a barrel, extending a 1.1% rise in the previous session, reported.
US West Texas Intermediate crude futures gained $2.24, or 2.6%, to $88.71 a barrel, after climbing 0.8% in the previous session.
The easing curbs include shortening quarantine times for close contacts of cases and inbound travelers by two days, as well as eliminating a penalty on airlines for bringing in infected passengers.
"Oil traders are applauding the news. The key for oil markets is to continue watching developments closely for this and further marginal positive changes in the government's zero-Covid stance," said Stephen Innes, managing partner at SPI Asset Management.
The move towards liberalizing the zero-Covid policy will provide a springboard for oil markets, given that lockdowns hurt mobility and oil prices more than economic activity, he added.
Prices also picked up on Friday after milder-than-expected US inflation data reinforced hopes that the Federal Reserve would slow down rate increases, boosting chances of a soft landing for the world's biggest economy. 
A weaker US dollar also supported oil prices, as it makes the commodity cheaper for buyers holding other currencies.

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