China reopens borders
Market sentiment improved
Some countries implement regulations for Chinese tourists
The re-opening of borders in China has provided support for crude oil to trade positively at the start of the week.
Brent crude oil futures rose 1.1% in the Asian session to trade at around $79 a barrel. Meanwhile, US WTI trading rose 1.2% to $74 a barrel.
January 8 is the starting date for Chinese citizens to leave the country after 3 years of confinement due to strict Covid-19 regulations.
As a result, it has improved the outlook for fuel demand from one of the world's major oil consumers.
Even so, the price movement displayed by black commodity trading is seen as insignificant since there are still some concerns.
Although China has reopened its borders, there are countries that have set rules for the entry of tourists from the country as a sign of caution from the new spread of the epidemic.
This is seen as likely to limit a stronger recovery in the world's second largest economy.
