8/23, 11:35 AM (Source: TeleTrader)
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Crude oil surges over 3% on business activity data

The prices of crude oil soared more than 3% on Monday, making a comeback after registering major losses over the previous week. The positive sentiment comes as stakeholders assess whether the spreading of the Delta coronavirus variant will prompt concerns related to global economic growth.

While the business activity across Europe remained strong in August, the IHS Markit is set to report data for the United States shortly after the opening bell in New York.

International benchmark Brent for settlements in October surged 3.15% to sell for 67.23 per barrel at 5:33 am ET, while West Texas Intermediate (WTI) soared 3.15% to go for $64.10 a barrel one minute later.

Breaking the News / ND