Reuters

Oil falls as Delta surge clouds fuel demand outlook

Oil prices fell more than 1% on Monday, dropping for a third session, as government-imposed restrictions on mobility to counter the spread of the Delta variant raised worries about a recovery in fuel demand. Brent crude was down 80 cents, or 1.1%, at $69.79 a barrel by 0046 GMT, after edging lower last week. Official data from China on retail sales, industrial production and urban investment is expected to show that a recent tightening of coronavirus restrictions prompted declines in activity in the world’s second-biggest economy in July.

LEAVE A REPLY

Please enter your comment!
Please enter your name here