Crude prices extend losses, tumble 4% as virus worries weigh

Dow Jones2021-08-09

Crude prices fell sharply on Monday, extending losses from late last week partly due to concerns about the spread of the delta variant of coronavirus. Crude for September delivery fell $2.84, or 4.2%, to $65.43 a barrel. Brent oil fell $2.76, or 3.9%, to $67.93 a barrel. U.S. oil futures booked the sharpest weekly slump in 9 months on Friday as the dollar rallied on the back of strong jobs data. Spreading cases of the delta variant have also sparked concerns of a growth slowdown, which would impact oil demand. Goldman Sachs slashed its China third-quarter growth forecast, which lowered its annual view, due to more cases of COVID-19.

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Comments

  • BlueDaisy
    2021-08-09
    BlueDaisy
    Seasonal correction also
  • Rashamon96
    2021-08-09
    Rashamon96
    Ok
  • Greenhulk
    2021-08-09
    Greenhulk
    Crude oil price is still at the level oil exporting country still can make profit. 
  • Hksg
    2021-08-09
    Hksg
    Not easy to trade at all
  • Winyss10
    2021-08-09
    Winyss10
    2 minutes ago
  • Kimmikim
    2021-08-09
    Kimmikim
    Wa
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