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

Oil dipped lower for a second day, paring gains for the week, as the fast-spreading delta variant continues to cloud the demand outlook.

Futures dipped slightly on Friday to trade near $68 a barrel in New York, paring the week’s gain to 0.4%. The latest Covid-19 wave is leading to tighter curbs on movement across the globe, though 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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August 13, 2021 at 06:46AM
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Oil Steady as Covid Return Casts Shadow Over Demand Outlook - Bloomberg
"oil" - Google News
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