Oil suffers fresh blow


Consumption challenge: A health worker taking a swab sample for Covid-19 from a child in China. The country’s zero-Covid strategy is among factors affecting consumption. — AFP

OIL headed for a back-to-back weekly loss, burdened by demand concerns, rising stockpiles, and the possibility the Biden administration may make a fresh release from emergency reserves.

West Texas Intermediate edged toward US$84 (RM378) a barrel, but is still down more than 3% this week after hitting the lowest since January.

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