How does China's easing of Covid restrictions impact oil prices? Crude rallied back toward $90 after a two-day sell-off. Where does the crude oil price go given supply-side issues and the threat of a recession? "Crude oil has benefited from a decrease in price of certain commodities like copper. Recently, there were more Covid cases in China than last April. There were also comments from the Saudi Arabia oil minister that they are cautious about bringing production back," says Bill Baruch.