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    <title>Aaj TV English News - Business &amp; Economy</title>
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    <pubDate>Thu, 09 Apr 2026 09:01:48 +0500</pubDate>
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      <title>Oil climbs on optimism over China’s demand recovery</title>
      <link>https://english.aaj.tv/news/30307272/oil-climbs-on-optimism-over-chinas-demand-recovery</link>
      <description>&lt;p&gt;&lt;strong&gt;Oil prices reclaimed ground on Monday after tumbling more than $2 a barrel in the previous session as optimism from China’s reopening and oil demand recovery outweighed concerns of a global recession.&lt;/strong&gt;&lt;/p&gt;
&lt;p&gt;Brent crude futures rose 72 cents, or 0.9 per cent, to $79.76 a barrel by 0103 GMT while US West Texas Intermediate crude was at $74.89 a barrel, up 60 cents, or 0.8%.&lt;/p&gt;
&lt;p&gt;China, the world’s top crude oil importer and number two oil consumer, is experiencing its first of three expected waves of Covid-19 cases after Beijing relaxed mobility restrictions.&lt;/p&gt;
&lt;p&gt;“Despite a surge in Covid cases, the reopening optimism and accommodative policy improve oil’s demand outlook,” CMC Markets analyst Tina Teng said.&lt;/p&gt;
&lt;p&gt;On Friday, news outlet Caixin reported that China plans to increase flights with the goal to restore the country’s average daily passenger flight volumes to 70pc of 2019 levels by Jan 6.&lt;/p&gt;
&lt;p&gt;China’s diesel and gasoline exports continued to surge in November to their highest level in over a year as refiners dashed to use up their 2022 export quotas and sell down rising inventory.&lt;/p&gt;
&lt;p&gt;Brent and WTI rose more than 3pc last week as a Canada to US pipeline remained shut with its operator TC Energy Corp focused on cleaning up an oil spill. The shutdown of the pipeline, with a capacity to send 622,000 barrels per day of Canadian crude to US refiners, has supported prices for US heavy crude grades.&lt;/p&gt;
&lt;p&gt;An announcement by the US Energy Department on Friday that it will begin repurchasing crude oil for the Strategic Petroleum Reserve also supported outlook for stronger prices.&lt;/p&gt;
&lt;p&gt;This will be the United States’ first purchase since this year’s record 180 million barrel release from the stockpile.&lt;/p&gt;
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      <content:encoded xmlns="http://purl.org/rss/1.0/modules/content/"><![CDATA[<p><strong>Oil prices reclaimed ground on Monday after tumbling more than $2 a barrel in the previous session as optimism from China’s reopening and oil demand recovery outweighed concerns of a global recession.</strong></p>
<p>Brent crude futures rose 72 cents, or 0.9 per cent, to $79.76 a barrel by 0103 GMT while US West Texas Intermediate crude was at $74.89 a barrel, up 60 cents, or 0.8%.</p>
<p>China, the world’s top crude oil importer and number two oil consumer, is experiencing its first of three expected waves of Covid-19 cases after Beijing relaxed mobility restrictions.</p>
<p>“Despite a surge in Covid cases, the reopening optimism and accommodative policy improve oil’s demand outlook,” CMC Markets analyst Tina Teng said.</p>
<p>On Friday, news outlet Caixin reported that China plans to increase flights with the goal to restore the country’s average daily passenger flight volumes to 70pc of 2019 levels by Jan 6.</p>
<p>China’s diesel and gasoline exports continued to surge in November to their highest level in over a year as refiners dashed to use up their 2022 export quotas and sell down rising inventory.</p>
<p>Brent and WTI rose more than 3pc last week as a Canada to US pipeline remained shut with its operator TC Energy Corp focused on cleaning up an oil spill. The shutdown of the pipeline, with a capacity to send 622,000 barrels per day of Canadian crude to US refiners, has supported prices for US heavy crude grades.</p>
<p>An announcement by the US Energy Department on Friday that it will begin repurchasing crude oil for the Strategic Petroleum Reserve also supported outlook for stronger prices.</p>
<p>This will be the United States’ first purchase since this year’s record 180 million barrel release from the stockpile.</p>
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      <category>Business &amp; Economy</category>
      <guid>https://english.aaj.tv/news/30307272</guid>
      <pubDate>Mon, 19 Dec 2022 13:18:21 +0500</pubDate>
      <author>none@none.com ()</author>
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        <media:title>In this file photo taken on October 19, 2022 in an aerial view, the Strategic Petroleum Reserve storage at the Bryan Mound site is seen in Freeport, Texas. AFP
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