Oil sank for a third consecutive day as the spread of the delta coronavirus variant hurt prospects for global demand, while drilling data from the U.S. pointed to increased activity and the OPEC+ alliance adds barrels.
West Texas Intermediate slumped 1.2% after a 0.9% loss on Friday. In Asia, fresh virus outbreaks have started weighing on China’s economy, with retail sales growth and industrial output slowing. Meanwhile, cases are at or near records in nations including Thailand, Vietnam and the Philippines.
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August 16, 2021 at 05:49AM
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Oil Market Prices and News: Crude Drops at Week's Opening - Bloomberg
"Oil" - Google News
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