Oil steadies after rout on rising Covid-19 cases, OPEC+ supply deal

Brent crude gained 38 cents, or 0.6%, to $69.00 a barrel by 0058 GMT. The U.S. crude contract for August delivery, which expires later on Tuesday, was up 49 cents, or 0.7%, at $66.91 a barrel. U.S. crude for September delivery was up around 1% at $66.99 a barrel. The selloff, which pushed prices to their lowest in two months, "was largely due to concerns centered on the Delta variant and macro backdrop," RBC Capital Markets said in a note.

from Commodities-Markets-Economic Times
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