China could adopt fiscal and tax support measures to support the economy if oil prices surge, CCTV reports

This report indicates China's potential response to surging oil prices, suggesting that fiscal and tax support measures may be on the table to bolster the economy. This stance could help mitigate inflationary pressures and stabilize growth, thus impacting global commodity markets and potentially supporting oil prices in the near term. Traders should consider the implications for WTI and other commodities as the situation develops.