SINGAPORE: Oil prices climbed on Tuesday on easing concerns about demand in China after Shanghai relaxed some COVID-19-related restrictions and OPEC warned it would be impossible to increase output enough to offset lost Russian supply.
Brent crude futures were up $2.98 or 3.03% to $101.46 a barrel, and U.S. West Texas Intermediate was up $3 or 3.18% to $97.29 a barrel at 0640 GMT. Both contracts had settled down around 4% on Monday.
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