Oil Market News for Aug. 9: Oil Extends Losses on Delta Outlook - Bloomberg

Oil extended losses after the worst week since October as a Covid-19 resurgence raised concerns about the short-term demand outlook.

Futures in New York fell below $67 a barrel in early Asian trading after sliding almost 8% last week. China has completed a mass coronavirus testing program in Wuhan -- the original epicenter of the pandemic -- following new confirmed cases in the region, while infections rose in parts of Europe. A stronger dollar also weakened the appeal of commodities priced in the currency.

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August 09, 2021 at 05:44AM
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Oil Market News for Aug. 9: Oil Extends Losses on Delta Outlook - Bloomberg
"oil" - Google News
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