For the first time since 1976, the U.S. economy might grow faster this year than China’s economy. China‚Äôs “zero-Covid” strategy has had a detrimental impact on the demand recovery for crude oil Weaker long-term economic growth may lead to slowing crude imports. After a relentless seven-month march, the oil price rally appears to be in danger of collapsing after oil prices pulled sharply from their recent highs. Oil prices have been struggling to reverse last week’s losses as the markets worry about a fall in demand after the Federal Reserve hiked interest rate by three-quarters of a percentage point, the largest bump since 1994. Brent crude futures were down 38 cents, or 0.3%, at $112.74 a barrel on Monday, with front-month prices tumbling 7.3% last week, their first weekly fall in five. Meanwhile, U.S. West Texas Intermediate (WTI) crude was at $109.38 a barrel, down 18 cents, or 0.2%, […]