Oil prices fell on Friday morning for the seventh day in a row, which would be the longest run of daily declines since 2019, amid growing concerns about global oil demand and the signal from the Fed it would ease its stimulus program. As of 8:25 a.m. EDT, WTI Crude was down 1.62% at $62.62 and Brent Crude had fallen by 1.
58% at $65.36. Both benchmarks were set on course for a 6% loss this week alone, as the market is increasingly worried about oil demand with surging Delta variant cases in major economies and as Fed’s signal that it would…Oil Set For Longest Losing Streak Since 2019
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