Oil keeps dropping over worries about a fuel demand recovery

An oil tanker at Jose refinery cargo terminal in Venezuela. Picture: REUTERS/JORGE SILVA

“Crude oil remained under pressure as the fast-spreading Delta variant of the coronavirus casts a cloud over the outlook for demand,” ANZ Research said in a note. In Japan, the world’s fourth-biggest importer of crude oil, many analysts expect modest economic growth in the current quarter as state of renewed emergency restrictions to deal with record cases of infections weigh on household spending.

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