Oil Steady as Covid Return Casts Shadow Over Demand Outlook - Bloomberg

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Oil steadied at the end of a volatile week in which the fast-spreading delta virus variant continued to cloud the demand outlook.

Futures traded near $69 a barrel in New York after slipping on Thursday. The latest Covid-19 wave is leading to tighter curbs on movement across the globe, although there are mixed assessments on its impact. The International Energy Agency reduced its demand forecasts for the rest of the year, while Goldman Sachs Group Inc. predicts only a transient hit to consumption.

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Oil Steady as Covid Return Casts Shadow Over Demand Outlook - Bloomberg
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