Oil prices are falling in this Monday’s session after four consecutive months of appreciation as the spread of the covid-19 delta variant continues to test demand appetite and investor nervousness.
Brent crude – traded in London – shrinks 1.19% to $74.51 a barrel, while US WTI (West Texas Intermediate) retreats 1.08% to $73.51.
In China, the delta variant is spreading at a strong pace leading the economy’s activity to shrink in July, thanks to the containments the country is demanding in order to try to contain the spread of the virus.
Beyond the health side, all eyes are on the tension between Iran and the US after Washington blamed Tehran for the attack on an Israeli pipeline, leaving a possible “appropriate response” up in the air.
