Oil Claws Back Some of New Year Slump With Focus on China Demand.

(Bloomberg) -- Oil recovered some of a drop of about 9% over the previous two sessions, with traders assessing the outlook for China's demand and the impact of cold US weather on inventories. Why China's Reopening Isn't Boosting Global Oil Markets Yet At the same time, the oil market is continuing to grapple with lower levels of participation, with open interest near multiyear lows, leaving prices susceptible to large intraday swings. [Extracted from the article]