{"id":429940,"date":"2022-04-11T17:17:00","date_gmt":"2022-04-11T14:17:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/futures-movers-global-oil-benchmark-drops-below-100-a-barrel-as-china-covid-lockdowns-continue\/"},"modified":"2022-04-11T17:17:00","modified_gmt":"2022-04-11T14:17:00","slug":"futures-movers-global-oil-benchmark-drops-below-100-a-barrel-as-china-covid-lockdowns-continue","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/futures-movers-global-oil-benchmark-drops-below-100-a-barrel-as-china-covid-lockdowns-continue\/","title":{"rendered":"#Futures Movers: Global oil benchmark drops below $100 a barrel as China COVID lockdowns continue"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a40b13e422ba\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a40b13e422ba\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/futures-movers-global-oil-benchmark-drops-below-100-a-barrel-as-china-covid-lockdowns-continue\/#%E2%80%9CFutures_Movers_Global_oil_benchmark_drops_below_100_a_barrel_as_China_COVID_lockdowns_continue%E2%80%9D\" >&#8220;Futures Movers: Global oil benchmark drops below $100 a barrel as China COVID lockdowns continue&#8221;<\/a><ul class='ez-toc-list-level-6' ><li class='ez-toc-heading-level-6'><ul class='ez-toc-list-level-6' ><li class='ez-toc-heading-level-6'><ul class='ez-toc-list-level-6' ><li class='ez-toc-heading-level-6'><ul class='ez-toc-list-level-6' ><li class='ez-toc-heading-level-6'><ul class='ez-toc-list-level-6' ><li class='ez-toc-heading-level-6'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/futures-movers-global-oil-benchmark-drops-below-100-a-barrel-as-china-covid-lockdowns-continue\/#Price_action\" >Price action<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-6'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/futures-movers-global-oil-benchmark-drops-below-100-a-barrel-as-china-covid-lockdowns-continue\/#Market_drivers\" >Market drivers<\/a><\/li><\/ul><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/buradabiliyorum.com\/en\/futures-movers-global-oil-benchmark-drops-below-100-a-barrel-as-china-covid-lockdowns-continue\/#William_Watts\" >William Watts<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9CFutures_Movers_Global_oil_benchmark_drops_below_100_a_barrel_as_China_COVID_lockdowns_continue%E2%80%9D\"><\/span>&#8220;Futures Movers: Global oil benchmark drops below $100 a barrel as China COVID lockdowns continue&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<h2 class=\"article__subhead\" itemprop=\"alternativeHeadline\">\n<\/h2>\n<p><\/p>\n<div class=\"column column--full article__content\">\n<div class=\"article__side\">\n<div class=\"container--sticky not-active\">\n<div id=\"cx-next\" data-nosnippet>\n              <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div id=\"js-article__body\" class=\"article__body article-wrap at16-col16 barrons-article-wrap\" itemprop=\"articleBody\" data-sbid=\"WP-MKTW-0000774080\" role=\"document\">\n<div class=\"barrons-article-ad-wrapper\">\n<div data-track=\"barrons-article-ad-wrap\" class=\"barrons-article-ad sticky_item\">\n<div class=\"barrons-main-article-ad-target sticky_target body_ad\" aria-hidden=\"true\"><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div data-layout=\"\n                inline\" data-layout-mobile=\"\" class=\"\n          media-object\n          type-InsetArticleReader\n              \n              inline\n  article__inset\n          article__inset--type-InsetArticleReader\n              article__inset--inline\n  \"><\/p>\n<div class=\"media-object-article-reader\">\n<div class=\"audioplayer\" data-sbid=\"WP-MKTW-0000774080\" role=\"region\" aria-label=\"Listen to Article\" tabindex=\"-1\" id=\"articlereader\" data-show-title=\"false\" data-theme=\"wsj-article-reader\" data-show-header=\"false\" data-show-subscribe=\"false\" data-ads-enabled=\"true\" data-save-publication=\"false\">\n        <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>       Oil futures retreated early Monday, with the global benchmark slipping back below the $100-a-barrel threshold as China\u2019s COVID-19 lockdowns amplified worries over crude demand.<\/p>\n<h6><span class=\"ez-toc-section\" id=\"Price_action\"><\/span>Price action<span class=\"ez-toc-section-end\"><\/span><\/h6>\n<ul class=\"articleList\">\n<li>\n      West Texas Inter<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">media<\/a>te crude for May delivery<br \/>\n        CL.1,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/211629951\/delayed\" class=\"negative\">-3.93%<\/bg-quote><\/p>\n<p>        CLK22,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/209724739\/delayed\" class=\"negative\">-3.93%<\/bg-quote><br \/>\n       was TK on the New York Mercantile Exchange, after suffering back-to-back weekly losses that saw the U.S. benchmark retreat 13.7% as of Friday\u2019s close.<\/p>\n<\/li>\n<li>\n      June Brent crude<br \/>\n        BRN00,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/209704782\/delayed\" class=\"negative\">-3.84%<\/bg-quote><\/p>\n<p>        BRNM22,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/209705375\/delayed\" class=\"negative\">-3.82%<\/bg-quote><span>,<\/span><br \/>\n       the global benchmark, was TK on ICE Futures Europe. Brent fell 1.5% last week to leave it down 14.8% over the last two weeks.<\/p>\n<\/li>\n<\/ul>\n<h6><span class=\"ez-toc-section\" id=\"Market_drivers\"><\/span>Market drivers<span class=\"ez-toc-section-end\"><\/span><\/h6>\n<p> Oil has seen volatile trade since Russia\u2019s invasion of Ukraine in late February, with WTI briefly trading above $130 a barrel and Brent nearly touching $140 in early March. Based on most actively traded contracts, WTI had closed at $92.10 a barrel on Feb. 23, the eve of the invasion; Brent had settled at $94.05.<\/p>\n<div class=\"paywall\">\n       Oil has pulled back in recent weeks as the U.S. announced it would release 180 million barrels of crude over the next six months from its strategic reserves, with other members of the International Energy Agency adding  a net 60 million barrels of releases.<\/p>\n<p>China\u2019s <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.wsj.com\/articles\/shanghai-in-lockdown-struggles-to-feed-itself-11649353336?mod=article_inline&amp;mod=article_inline\" class=\"icon none\">lockdown of Shanghai<\/a>, the country\u2019s largest city with more than 25 million people that also serves as its financial hub, has also served to pull crude prices back down, analysts said.<\/p>\n<p>\u201cThere is growing concern over the COVID situation in China, with it <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>earing as though there is no end in sight for the lockdowns that we have been seeing,\u201d said Warren Patterson, head of commodities strategy at ING, in a note.<\/p>\n<p>\u201cClearly, the increase in cases and strong enforcement of restrictions leaves further downside risk to Chinese oil demand. Weaker domestic demand suggests we should see refiners cutting operating rates,\u201d while there is also the potential for a pickup in refined product exports from China in the short term, Patterson said. \u201cThis is a change, given that prior to lockdowns, there were reports that authorities had asked state refiners not to export diesel or gasoline in April due to uncertainty over the Russia-Ukraine war.\u201d<\/p><\/div>\n<\/div><\/div>\n<p><\/p>\n<div class=\"byline article__byline\">\n<p>    <span>By<\/span><\/p>\n<div class=\"author mobile-scrim hasMenu\" data-scrim='{\"type\":\"author\",\"header\":\"William Watts\",\"subhead\":\"The Wall Street Journal\",\"list\":[{\"type\":\"link\",\"icon\":\"bio\",\"url\":\"https:\/\/www.marketwatch.com\/topics\/journalists\/william-watts\",\"text\":\"Biography\"},{\"type\":\"link\",\"icon\":\"twitter\",\"url\":\"https:\/\/twitter.com\/wlwatts\",\"text\":\"@wlwatts\"},{\"type\":\"link\",\"icon\":\"facebook\",\"url\":\"https:\/\/facebook.com\/williamwattsmarkets\",\"text\":\"williamwattsmarkets\"},{\"type\":\"link\",\"icon\":\"email\",\"url\":\"http:\/\/www.marketwatch.com\/news\/mailto:bwatts@marketwatch.com\",\"text\":\"bwatts@marketwatch.com\"}]}' itemscope itemprop=\"author\" itemtype=\"http:\/\/schema.org\/Person\">\n<h4 itemprop=\"name\"><span class=\"ez-toc-section\" id=\"William_Watts\"><\/span>William Watts<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p><ufc-follow-author-widget product=\"marketwatch\" author-id=\"205_MW\" author-name=\"William Watts\" signin-url=\"https:\/\/accounts.marketwatch.com\/login?target=https%3A%2F%2Fwww.marketwatch.com%2Fstory%2Fglobal-oil-benchmark-drops-below-100-a-barrel-as-china-covid-lockdowns-continue-11649676017%3Frss%3D1%26siteid%3Drss\" panda-api=\"https:\/\/follow-api.marketwatch.com\"><\/ufc-follow-author-widget><\/p><\/div>\n<\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"http:\/\/www.marketwatch.com\/news\/story.asp?guid=%7B20C05575-04D4-B545-7BCF-C0A50C3EF33B%7D&#038;siteid=rss&#038;rss=1\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;Futures Movers: Global oil benchmark drops below $100 a barrel as China COVID lockdowns continue&#8221; Oil futures retreated early Monday, with the global benchmark slipping back below the $100-a-barrel threshold as China\u2019s COVID-19 lockdowns amplified worries over crude demand. Price action West Texas Intermediate crude for May delivery CL.1, -3.93% CLK22, -3.93% was TK on&#8230;<\/p>\n","protected":false},"author":1,"featured_media":429941,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.mktw.net\/im-522037\/social","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[],"class_list":["post-429940","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/429940","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=429940"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/429940\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/429941"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=429940"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=429940"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=429940"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}