Oil Prices Continue To Fall On Delta Variant
Oil prices started August in the red, and kept falling into the afternoon, with both benchmarks trading down more than 3% near Monday’s close. The price of a WTI barrel slipped $2.54 (-3.43%) per barrel on Monday at 4:30 p.m. EDT, end the day at $71.41, while the Brent crude benchmark was trading down $2.35 (-3.12%) at $73.06. The catalyst for the sharp Monday drop is a surge in the number of Delta variant coronavirus cases in the world’s largest oil importer, China. Any dent in oil demand in this large of an importer will be felt in…