Oil prices are down sharply after China placed the financial hub Shanghai under lockdown due to rising coronavirus infections. The international benchmark Brent fell more than 5%, and is now trading at around $115 a barrel. Fresh COVID-19 restrictions in the city of 26M people are exacerbating concerns over a possible dip in demand for fuel from the world's biggest crude importer.

We were joined by AvaTrade chief market analyst, Naeem Aslam in Bodrum, Türkiye,

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