Oil Market News: Oil Opens Week Steady as Traders Weigh Demand, Iran - Bloomberg

Oil fell after four monthly gains as data signaled a slowdown in China and investors monitored the spread of the delta coronavirus variant.

West Texas Intermediate retreated 1.4%, after climbing 2.6% last week. China’s economic activity continued to ease in July, implying a more steady recovery this half as growth risks mount. Across the Asia-Pacific, the highly infectious delta variant continues to reverberate, clouding the outlook for mobility. China has seen a small increase in cases, Thailand is set to expand its quasi-lockdown measures, and infections in hot spot Sydney matched a record.

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August 02, 2021 at 05:46AM
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Oil Market News: Oil Opens Week Steady as Traders Weigh Demand, Iran - Bloomberg
"oil" - Google News
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