Rising COVID-19 Case Count Disrupt Oil Ports In China

The rising Covid-19 case count in China has begun disrupting crude oil trade as it shutters some of the world's busiest ports. Bloomberg reported earlier this week that the Ningbo-Zhoushan port, which is the world's third-busiest, remained closed, albeit partially, for a sixth day. Now some expect these closures to multiply. "If we do see port closures increase in frequency and scale around China, that could really create some logistical headaches oil traders and Chinese refiners," said Jay Maroo, Senior Market Analyst at trading and shipping market…