(Bloomberg) -- Commodities sank as China’s Covid outbreak worsened and a series of stunning street protests in cities across the nation threaten to derail economic activity and sap demand for energy, food and raw materials.Most Read from BloombergNext Covid-19 Strain May be More Dangerous, Lab Study ShowsUkraine’s Victories May Become a Problem for the USKey Trump 2024 Rivals Silent After His White Supremacist MeetingBase metals in London and Shanghai dropped, with Chinese copper futures declini
Russia is losing about $4 billion a month as Urals crude oil trades at about 40% discount to international Brent crude oil prices, per Bloomberg.
(Reuters) -Oil prices slumped on Monday as street protests against strict COVID-19 curbs in China, the world's biggest crude importer stoked concern about the outlook for fuel demand. Brent crude dropped $2.43, or 2.9%, to trade at $81.20 a barrel at 0731 GMT, after diving more than 3% to $80.61 earlier in the session - its lowest since Jan. 4. Brent ended the latest week down 4.6%, while WTI fell 4.7%.