Oil is falling in Asia as the virus resurgence in China worsens. Oil retreated as China’s worsening virus resurgence raised concerns about demand in the world’s biggest crude importer, while rebels in Yemen announced a temporary pause in hostilities against Saudi Arabia. West Texas Intermediate and Brent futures fell more than 4% each after authorities in Shanghai said they will lock down half of the city in turns for mass Covid-19 testing. Yemen’s Houthi rebel leader announced a three-day truce on Saturday after an escalation of attacks on the Saudis over the past week, according to a TV report. Prices are also easing on signs that Russian crude is finding its way into the market despite western buyers shunning shipments to avoid financial sanctions and reputation risks. Flows to Asia are rising, with east-bound exports of some grades from Baltic and Black Sea ports over March 1-23 at […]