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Oil prices fall as China imposes largest lockdown in Shanghai

Global oil prices have fallen as a nine-day Covid-19 lockdown came into force in Shanghai on Monday, the largest in China since the onset of the pandemic more than two years ago, the BBC reported.

While Brent crude lost more than $3 a barrel on concerns that the move would mean that demand for oil will fall, the Shanghai Composite stock index fell in early trade before regaining most of the losses later in the morning.