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Oil prices fall on fears of the mutating delta

2021-08-03T21:18:55.611Z

New York, SANA- Oil prices closed lower today in volatile trading, with the market attracting concern about the escalation of oil prices.



New York-Sana

Oil prices closed lower today in volatile trading as the market juggled concern over the escalation of infections with the mutated delta strain of the Corona virus and expectations of another drop in US crude stocks.

Reuters reported that the global benchmark Brent crude contracts ended the trading session as low as 48 cents, or 0.66 percent, to record at a settlement of $72.41 a barrel.

US West Texas Intermediate crude contracts fell 70 cents, or 0.98 percent, to settle at $70.56 a barrel.

Prices were affected by concerns about the spread of the mutated strain Delta in the United States and China, the world's largest consumers of crude, and both benchmarks fell more than 3 percent at one point in the session.

Source: sena

All business articles on 2021-08-03

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