Oil Tumbles Below $100 on China Covid, Ukraine Talks

The video discusses the recent sharp decline in oil prices, driven by concerns over China's economic slowdown and fresh COVID-19 lockdowns. Anthony Depaola from Bloomberg explains that while supply issues and the Ukraine war previously pushed prices up, the focus has now shifted to demand concerns, particularly from China. Positive developments from US-China meetings and Russia-Ukraine discussions are also influencing market sentiment.

Discuss the impact of geopolitical events on oil prices as mentioned in the text.

What are the implications of the COVID outbreaks in China for the oil market?