Oil prices declined on Friday amid concerns about the spread of the Coronavirus Delta variant and a strong surge but the U.S. Dollar (USD) that followed the release of a strong jobs data for July.<\/p>\n\n\n\n
Oil futures extended their weekly losses and snapped a two-week rising streak.<\/p>\n\n\n\n
The spread of the Delta variant with a rising number of new infections led to Japan and China reinstating lockdown measures, which might affect the demand of energy.<\/p>\n\n\n\n
Brent crude futures for October delivery lost 59 cents, or 0.83%, and finished at $70.70 per barrel.<\/p>\n\n\n\n
For the week, the global benchmark crude\u2019s declined by 6.3%, in the first loss in three weeks and the worst since March 19.<\/p>\n\n\n\n
Meanwhile, the West Texas Intermediate (WTI) crude futures for September delivery fell by 81 cents, or 1.2%, to close at $68.28 per barrel.<\/p>\n\n\n\n
On a weekly basis, WTI futures plunged by 7.67%, its highest loss since early October.<\/p>\n","protected":false},"excerpt":{"rendered":"
Oil prices declined on Friday amid concerns about the spread of the Coronavirus Delta variant and a strong surge but the U.S. Dollar (USD) that followed the release of a strong jobs data for July. Oil futures extended their weekly losses and snapped a two-week rising streak. The spread of the Delta variant with a …<\/p>\n","protected":false},"author":10,"featured_media":44870,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[38,36],"tags":[6846],"class_list":["post-49136","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-market-updates","tag-oil"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/49136","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=49136"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/49136\/revisions"}],"predecessor-version":[{"id":49137,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/49136\/revisions\/49137"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/44870"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=49136"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=49136"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=49136"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}