By Martin Baccardax China’s ‘zero Covid’ policy is likely to lead to longer lockdowns, and a slump in energy demand, just as the U.S. and allied nations release a record amount of crude into global markets. Global oil prices slumped lower Monday as traders and investors re-set demand bets amid the ongoing Covid surge in China and the release of millions of barrels in reserves as part of coordinated plan between the U.S. and its allies to mitigate the impact of supply disruptions and sanctions on Russian energy exports. China, the world’s biggest energy importer, could look to an extended lockd…