LONDON—Oil prices rose on Wednesday to their highest since early December on optimism that the lifting of China’s strict COVID-19 curbs will lead to a fuel demand recovery in the world’s top oil importer.
Brent crude futures were up $1.21, or 1.41 percent, to $87.13 a barrel by 0942 GMT, while U.S. West Texas Intermediate (WTI) crude futures were up $1.36, or 1.7 percent, to $81.54. Both were at their highest since early December.
