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2021-07-26

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Oil Edges Higher With Robust Demand Outlook Clouded by Delta

-- Oil edged higher after eking out a modest weekly gain as investors assessed the outlook for demand amid a resurgence in Covid-19.Futures in New York traded above $72 a barrel after adding 0.4% last week, the first weekly advance in three. There are signs that demand for fuels such as gasoline has increased as vaccination programs are rolled out, although the fast-spreading delta variant has raised concerns about the short-term outlook. Tight restrictions have been renewed including curfews i

Oil Edges Higher With Robust Demand Outlook Clouded by Delta

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There are signs that demand for fuels such as gasoline has increased as vaccination programs are rolled out, although the fast-spreading delta variant has raised concerns about the short-term outlook. Tight restrictions have been renewed including curfews i","content":"<p>(Bloomberg) -- Oil edged higher after eking out a modest weekly gain as investors assessed the outlook for demand amid a resurgence in Covid-19.</p>\n<p>Futures in New York traded above $72 a barrel after adding 0.4% last week, the first weekly advance in three. There are signs that demand for fuels such as gasoline has increased as vaccination programs are rolled out, although the fast-spreading delta variant has raised concerns about the short-term outlook. Tight restrictions have been renewed including curfews in some places.</p>\n<p>The latest virus flare-up has coincided with a salvaged OPEC+ agreement to add more barrels from August, whipping up stiff headwinds for oil and interrupting a price rally. 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