NEW YORK: Oil prices tumbled Monday along with equities in Europe and Asia on worries over a worsening Covid-19 outbreak in China, while US stocks finished a volatile session higher as Elon Musk sealed a deal to acquire Twitter.
Crude prices dove more than 3% on growing concerns over Chinese lockdowns in response to its latest Covid-19 wave. Dollar-denominated oil has also been pressured by the higher dollar.
Officials in finance hub Shanghai reported 51 deaths Monday, its highest daily toll despite weeks of strict containment measures, while Beijing warned of a “grim” situation as infections rise.
Among the…
