LONDON—Oil prices fell by over 2 percent on Thursday as surging COVID-19 cases in China dimmed hopes of a recovery in fuel demand for the world’s largest crude oil importer.
Brent futures for February fell $1.67, or 2.01 percent, to $81.59 a barrel by 0953 GMT. The more active March contract fell 1.79 percent to $82.49/bbl.
U.S. West Texas Intermediate crude futures fell $1.62, or 2.05 percent, to $77.34 a barrel.
The scale of the latest Chinese COVID-19 outbreak and doubts over official data prompted some countries to enact new travel rules on Chinese visitors, even as China began dismantling the world’s strictest COVID-19 regime of lockdowns and testing….