Crude prices trade lower on Covid concerns


Crude oil futures traded lower on Monday as concerns over the spread of the delta variant of the coronavirus continued to weigh on the market’s upward potential.

At 1205 hours GMT, Brent, the international benchmark for two-thirds of the world’s oil, shed $0.27 (-0.36 percent) to reach $73.83 a barrel. Similarly, the US West Texas Intermediate (WTI) reached $71.67, down by $0.40 (-0.56 percent).

The price for Opec Basket was recorded at $69.93 a barrel with 4.4 percent decrease, Arab Light was available at $73.85 a barrel with 6.52 percent increase, while the price of Russian Sokol reached $73.30 after gaining 6.48 percent. —TLTP

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