Oil Opens Lower As Delta Variant Fears Clash With Tight Supply

Oil prices were trading slightly down early on Monday after having fallen 1 percent in Asia trade, as the bullish factor of tight market countered the bearish factor of the Delta variant spreading in many countries. As of 10:06 a.m. EDT on Monday, WTI Crude prices were trading slightly down, 0.46 percent at $71.68, and Brent Crude was down 0.20 percent at $73.90. Prices had fallen earlier on Monday by 1 percent as cases of the Delta variant of COVID-19 continued to rise in many countries, including in the United States. “Crude futures were…