Oil Sticks Near Three-Month Highs Despite China Lockdowns
The Homer Ferrington gas drilling rig is seen during President Demetris Christofias' visit in the east Mediterranean, Nicosia, on Nov. 21, 2011. Cyprus Public Information Office/Handout/Reuters
SINGAPORE—Oil prices hovered near three-month highs on Thursday after parts of Shanghai imposed new COVID-19 lockdown measures.
Brent crude futures for August dipped 9 cents to $123.49 a barrel at 0853 GMT, while U.S. West Texas Intermediate crude for July was at $121.89 a barrel, down 22 cents.
