8/13, 7:26 PM (Source: TeleTrader)
more TeleTrader news

Oil prices decline as virus spread prompts demand fears

Prices of oil futures declined on Friday, as the investors remained worried over the effects that the spread of the COVID-19 Delta strain could have on the future demand for crude.

Moreover, a report published by Baker Hughes revealed a higher-than-expected weekly increase in the number of oil rigs in the United States.

Brent for October delivery was down 0.94% to $70.66 per barrel at 1:14 pm ET. At the same time, West Texas Intermediate futures for September settlement dropped 0.87% to $68.49 per barrel.

Breaking the News / BU