Oil resumed its decline as China’s virus resurgence worsened, raising concerns about demand from the world’s biggest crude importer. West Texas Intermediate futures slid below $96 a barrel. Virus cases continue to rise in Shanghai and there is no clarity on when restrictions will be lifted. The flare-up has led to disruptions at ports and prompted some refiners to trim operating rates. Oil has now given up most of the gains seen since Russia’s invasion of Ukraine in late February following a tumultuous period of trading. A weakening structure in the futures curve in recent days has pointed to diminishing concerns about undersupply. The war has fanned inflation and prompted the U.S. and its allies to release strategic reserves to cool prices. Shanghai […]