Published by
Reuters UK
Reuters UK
By Stephanie Kelly (Reuters) – Oil prices rose about 1% on Wednesday, gaining back some of their losses during the previous session on concerns about energy demand after the International Monetary Fund (IMF) cut its economic growth forecasts. However, the demand concerns have been offset by a tighter supply outlook following sanctions on Russia, the world’s second-largest oil exporter and a key European supplier, after its invasion of Ukraine. “Higher energy prices could trigger demand rationing,” ANZ Research said in a note. “On the other hand, Chinese COVID-zero approach and strict lockdowns…