Oil Steadies After Three-Day Drop as Demand Concerns Multiply

Crude is limping into the end of the year, with the US benchmark heading for the first back-to-back quarterly drop since mid-2019. The latest leg down comes at a complex moment, with traders assessing the fall-out from fresh Group of Seven curbs on Russian oil, including a price cap that’s meant to punish Moscow for the war in Ukraine. In addition, investors are gauging demand in China as the country moves away from its strict Covid Zero policy.