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Oil prices fall as Delta variant infections menace oil demand

News Source:http://www.jinchemical.com/ ; SendDate:2021-7-28 17:07:53 

Oil prices dropped on Monday, July 26, as increasing coronavirus Delta variant cases continue to reduce the outlooks of higher oil demand while increasing the possibility of having new constraints followed by lower mobility.

International benchmark Brent crude was selling at USD72.65 per barrel at 0727 GMT for a 1.07 percent loss after closing on Friday at USD73.44 a barrel.

American benchmark West Texas Intermediate (WTI) was selling at USD71.12 a barrel at the same time with a 1.31 percent decline after ending the past session at USD72.07 per barrel.

Oil prices began the week with a decline after staying moderately steady last week as investors assessed the state of the demand revival in different parts of the world.

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