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Oil Prices Fall as Recovery Momentum Runs out on Demand Fears

Adel 3 August, 2021 1:28 pm Commodities, Market Update

Crude oil prices reversed course after an early recovery, as concerns about coronavirus restrictions combined with slowing factory activities in key markets weighed on sentiment.

Brent crude futures were down 26 cents, or 0.4%, at $72.63 a barrel by 0645 GMT. US West Texas Intermediate crude fell 16 cents, or 0.2%, to $71.10.

Both benchmarks fell more than 3% on Monday.

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