Oil dipped at the end of the week — trimming a seventh weekly gain — as investors weighed China’s bumpy return from virus curbs. West Texas Intermediate futures slipped for a second session to trade near $121 a barrel. Fresh lockdowns in parts of Shanghai are raising concerns about demand as the nation cautiously lifts broader virus restrictions. If China does see a rapid recovery in activity, it will put further strain on a market that has tightened on rebounding consumption and disrupted Russian flows. “Demand sentiment is neutral at best,” said Vandana Hari, founder of Vanda Insights. “Lower consumption in China has been balanced out by the summer bump in the US. The upward push on prices is entirely from the supply side.” Oil has maintained its upward momentum this year through bouts of volatile trading after Russia’s invasion of Ukraine in late February. Goldman […]