USOIL 16th MAY 2022World oil prices fell due to continued lockdowns in China, the world's top oil importer, sparking concerns about the outlook for oil demand.
Asian share markets were struggling to sustain even a minor rally on Monday after shockingly weak data from China underlined the deep damage lockdowns were doing to the world's second-largest economy.
The COVID lockdown in China has had a negative impact on the oil market, which was hit by a sell-off along with equities.
In my view, if price has breakout from H1 diagonal support area . This is a good opportunity to sell with the target105.2 - 101.8
