Oil Rises as Chinese City’s Reopening Offsets Slowdown Concerns
Oil advanced at the start of the week as the Chinese city of Chengdu ended a two-week lockdown, boosting the outlook for demand.West Texas Intermediate rose toward $86 a barrel in early Asian trading after posting a third weekly loss on Friday. Chengdu is the biggest city to have shut since Shanghai’s bruising two-month lockdown earlier this year. The capital of Sichuan province will resume normal life from Monday.Investors are also preparing for an interest rate hike from the Federal Reserve la