Crude oil falls due to the spread of the delta variant

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Concerns about a collapse in crude oil demand are rising, due to the increasing number of COVID-19 cases around the world and fears of renewed lockdowns.

Brent crude futures fell from $1.27 to $65.18/barrel, down 1.9%.

WTI crude futures fell from $1.37 to $62.32/barrel, down 2.2%.

The global economic slowdown is tempting investors to sell crude oil contracts. Meanwhile, many countries, especially in Asia and Australia, are starting new lockdown measures to stop the spread of the delta variety.
The International Energy Agency (IEA) lowered its forecast for global oil demand in 2021 from 5.4 million barrels/day to 5.3 million barrels/day.
At the same time, the IEA raised its forecast for upfront oil demand growth in 2022 from 3 million barrels/day to 3.2 million barrels/day.

The Spot Market is Closed

Sunday.22 Aug- 2021

Metals

Updated
USD

Bid/Ask
Ounce

Change


Low/High
Gold
04.00
1,780.50
1,781.50
+1.10
0.01%
1,778.10
1,789.90
Silver
04.00
23.03
23.13
-0.20
-0.88%
22.83
23.41
Platinum
04.00
990.00
1,000.00
+21.00
2.17%
965.00
1,004.00
Palladium
04.00
2,204.00
2,354.00
-40.00
-1.78%
2,200.00
2,422.00
Rhodium
04.00
15,100.00
17,100.00
-1,900.00
-11.18%
15,100.00
18,800.00
Energy

Updated


Price


Change


%Change
Crude Oil
07.30

61.86

-1.64

-2.58%

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