Oil prices fell by 4% to a two-week low. The drop extends last week’s losses on fears that the resurgence of COVID-19 in China and possible rate hikes in the U.S. will hurt global demand. Oil Prices PlungeAccording to Reuters, Brent oil for delivery in July maintains its downward trend Monday and is already trading below $102 a barrel, a decrease of more than 4% compared to Friday’s close. This is due in part to prolonged Covid-related restrictions imposed in Shanghai. Q1 2022 hedge fund letters, conferences and more Meanwhile, North Sea oil, Europe’s benchmark, already posted losses last week…