Brent oil clawed back some losses after tumbling to an eight-week low amid a broader market rout stoked by a Covid-19 resurgence, which has raised concerns about the short-term outlook for energy demand.
Futures in London rose back above $69 a barrel after plunging 6.8% on Monday, the most since March. The fast-spreading delta variant has led to a surge in virus cases and renewed restrictions as it sweeps across the globe from Asia to Europe. A stronger dollar has also weighed on crude, making raw materials priced in the U.S. currency less attractive to investors.
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July 20, 2021 at 06:51AM
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Brent Oil Edges Higher From 8-Week Low After Selloff on Delta - Bloomberg
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