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Oil edges lower as mass COVID testing begins in China
China’s capital Beijing reported 48 new symptomatic and 2 new asymptomatic COVID-19 cases for April 27, state broadcaster CCTV reported on Thursday.
The city recorded 31 symptomatic cases a day earlier and three asymptomatic ones, as it began a mass testing program aimed at containing a new outbreak.
Authorities in Beijing are continuing to crack down on COVID-19 outbreaks and trying to avert the city-wide lockdown that has shrouded Shanghai for a month.
China’s Hangzhou city of 12.2 million people, home to e-commerce giant Alibaba (NYSE:BABA), will conduct mass COVID testing from April 28, state media reported on Wednesday.
Adding support to the market are concerns about tight worldwide energy supply following Russia’s invasion of Ukraine and subsequent sanctions slapped on Moscow by the United States and its allies.
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