China is considering steps to repeal Covid-Zero, but no timeline yet, WSJ

According to the magazine's sources, Chinese leaders are considering lifting the tough restrictions that have held China's economy in check for nearly three years. There is growing concern that the costs of "zero tolerance" for the virus are too high.

Rumors about cancellation of Covid-zero have been circulating since last week. In the backdrop, oil has been trading around $97-98 a barrel since November 4. Markets are preparing for a surge in demand.