OREANDA-NEWS  Oil prices have been rising for the third consecutive session due to expectations of demand growth in China as a result of changes in the policy of the country's authorities to combat COVID-19, as well as new measures to support the economy.

Last week, Beijing announced the reduction of mass testing of people for coronavirus, as well as the dissolution of "quarantine camps". On Saturday, the country's authorities announced that they plan further gradual changes, thanks to which covid restrictions will become more focused, but not soft.

"China's adjustment of the zero tolerance policy for coronavirus gives a powerful signal to the oil market," said Steven Innes, analyst at SPI Asset Management.

The cost of January Brent crude futures on the London ICE Futures exchange by 8:15 Moscow time on Monday is $96.19 per barrel, which is $0.2 (0.21%) higher than the closing price of the previous session. Following the results of trading on Friday, these contracts rose by $2.32 (2.5%), to $95.99 per barrel.

The price of WTI crude oil futures for December on the electronic trading of the New York Mercantile Exchange (NYMEX) has risen by this time by $0.14 (0.16%), to $89.1 per barrel. By the close of previous trading, the value of these contracts increased by $2.49 (2.9%) to $88.96 per barrel.

At the end of last week, Brent fell by 2.6%, WTI - by 3.9%.