Oil held a four-day drop driven by escalating concern that the spread of delta coronavirus variant is setting back the recovery in key economies, potentially jeopardizing a revival in energy consumption.
West Texas Intermediate traded near $67 a barrel after retreating almost 4% in the longest losing run since March. Among recent data, U.S. retail sales fell in July by more than forecast and Chinese economic activity slowed last month. That’s spurred aversion to risk, hurting commodities, while aiding the dollar.
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August 18, 2021 at 06:43AM
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Crude Oil Steadies After Four-Day Slump as Delta Menaces Demand - Bloomberg
"Oil" - Google News
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