Crude oil futures closed down on Friday in the early morning of the 21st Beijing time. So far, oil prices have fallen for the seventh trading day in a row. Us WTI crude oil futures fell nearly 9% this week on fears that the accelerated spread of the new Guandelta mutant will hit energy demand.
Peter McNally, an oil industry insider, said: "growing concern about the Delta mutant overshadowed the near-term demand outlook for all commodities, including oil."
On Friday, West Texas Intermediate (WTI) for September delivery on the New York Mercantile Exchange fell $1.37, or nearly 2.2%, to close at $62.32 a barrel, the lowest closing price since May. According to Dow Jones,Us WTI crude oil contracts have fallen 8.9 per cent in recent months this week, the biggest weekly decline since falling 10 per cent in the week to October 30th, according to market data.
October WTI crude oil futures, which are more actively traded, fell $1.36, or 2.1%, to close at $62.14 a barrel.
Intercontinental Exchange Inc in London as the benchmark of global crude oil priceBrent crude fell $1.27, or 1.9%, to close at $65.18 a barrel, the lowest settlement price since May. Brent crude oil futures are down 7.7% this week.