China declares a city-wide lockdown in Shanghai, and oil price falls by 3%

China declares a city-wide lockdown in Shanghai, and oil price falls by 3%

By Karuna Thapa

Kathmandu, March 28

Shanghai, China’s commercial center, has declared a state of emergency as coronavirus cases continue to climb.

The lockdown went into action this morning, according to Chinese newspapers, as the
coronavirus infection began to spread.

There will be two stages in Shanghai. According to the officials, the eastern section of the city will be closed from today to April 1 and the western part will be closed from April 1 to 5.

Authorities are planning to shut down the city’s infrastructure to put it to the test. Coronavirus infections have lately increased in China.

More than 4,500 individuals were sick in China on Sunday. China, which has a zero-tolerance policy for Corona, has imposed drastic measures to stop the transition.

Fuel demand in China is likely to fall as Shanghai’s factories and companies close.

According to Reuters, oil prices fell as much as 3% on Monday, as demand for gasoline in China is expected to fall.

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