Oil is getting a lift from the new economy-support policies in China | Forexlive

I posted earlier in the session on the new plan coming to support the nearly-dead property sector in China. This is in addition to China’s 20-point plan to deal with COVID in a more targeted way, not the slash-and-burn lockdown imposed across cities of millions when a handful of cases were found.

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The new COVID policies will be put to the test with the latest outbreaks seeing, for example, Beijing reporting its highest local case count in more than a year today (404 reported for November 12).

Oil is ticking higher in the new week’s trade on the outlook for improved demand out of China: