World oil prices are rising within 1% on Thursday morning, trading data show. Markets are reacting to the easing of coronavirus restrictions in China, experts say.
The price of February futures on Brent crude oil rose by 0.89% to $77.86 per barrel while January futures on WTI crude oil rose by 0.94% to $72.69.
China eased coronavirus restrictions in a number of cities, including Shanghai and Hangzhou and Urumqi. Restrictions have also been eased in Hong Kong.
