Oil price rebounds from two days of losses in volatile trade


Brent crude LCOc1 futures for July settled at $112.04, a gain of $2.93 a barrel, or 2.7%. U.S. West Texas Intermediate (WTI) crude CLc1 futures for June settled up $2.62, or 2.4%, to $112.21 a barrel. (File picshows an oilfield worker walking next to drilling rigs at an oil well operated by Venezuela's state oil company PDVSA, in the oil rich Orinoco belt, - Reuters)

Oil prices rebounded from two days of losses in a volatile session on Thursday, bolstered by weakness in the dollar and expectations that China could ease some lockdown restrictions that could boost demand.

Crude benchmarks continued their spate of wild swings, with both Brent and U.S. crude rising by nearly $5 a barrel in the span of a few hours, recovering from losses earlier in the week.

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