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Oil steady as economic worries offset possible China demand rise

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Reuters UK

By Scott DiSavino (Reuters) – Oil prices were little changed on Friday as worries about weaker economic growth offset expectations that crude demand could rebound in China as Shanghai lifts some coronavirus lockdowns. Brent futures for July delivery fell 36 cents, or 0.3%, to $111.68 a barrel by 0015 GMT, while U.S. West Texas Intermediate (WTI) crude fell 36 cents, or 0.3%, to $111.85 on its last day as the front-month. WTI futures for July, which will soon be the front-month, were down about 0.6% to $109.20 a barrel. That put WTI on track to rise for a fourth week in a row for the first time…

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