Oil prices edged up on Wednesday on expectations that easing COVID-19 restrictions in China will push up demand and as industry data showed drawdowns in U.S crude inventories. Brent crude was up 23 cents, or 0.2%, at $112.16 a barrel at 0633 GMT, while U.S. West Texas Intermediate (WTI) crude climbed 71 cents, or 0.6%, to $113.11 a barrel, reversing some of the previous session’s losses. The authorities allowed 864 of Shanghai’s financial institutions to resume work, sources said on Wednesday, a day after the Chinese city achieved a milestone of three consecutive days with no new COVID-19 cases outside quarantine zones. read more “Less awful news on China offers a nip in the […]