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Oil prices rebound from 7-day losing streak as investors snap up bargains

Oil prices reversed out of a seven-day losing stretch on Monday as investors punted on crude at bargain levels, though lingering fears over how a surge in globalCOVID-19 cases might affect fuel demand combined with a firmer U.S. dollar to limit gains.

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Oil edges lower as spread of Delta variant clouds prospects for demand

Oil prices dipped on Wednesday, a fifth day of declines with investors wary about prospects for stronger fuel demand as the use of rail, air and other forms of transport remained constrained amid surging COVID-19 cases worldwide.

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Oil fell on Monday morning in Asia, falling more than 1% and dropping below the $70 mark. Concerns remained that the restrictive measures currently in place to curb the latest COVID-19 outbreaks would continue to dampen the fuel demand outlook.

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Oil prices steady after US call for more oil raises supply concerns

Oil prices were steady on Thursday following two days of gains after a call from the United States, the world’s top oil consumer, for major producers to boost output reinforced supply concerns as economies ease their coronavirus restrictions.