Oil dropped for a third straight day as the continued spread of the delta coronavirus variant hurt prospects for global demand just as drilling data from the U.S. pointed to increased activity.
West Texas Intermediate slumped 1.1% 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
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