After taking a beating over the past few weeks, oil prices have been surging on rising demand optimism, a major production outage in Mexico, and the first full U.S. regulatory approval of a COVID-19 vaccine. October crude and Brent were up 3% to $67.47/bbl and $70.83/bbl, respectively, a day after a 5% surge by both benchmarks snapped a seven-day losing streak after China claimed to have brought its coronavirus cases down to zero and opened up the Ningbo port, one of the busiest in the world, after a two-week shutdown. About two weeks ago, China—once the epicenter of the virus—took an uncompromising approach by imposing widespread travel restrictions and new lockdowns. Authorities in Beijing curtailed public transport and taxi services in 144 of the worst-hit areas nationwide, including train service and subway usage in Beijing. That seemed like overkill, with less than 1,000 cases of the delta virus reported […]