Brent crude is down for the third week in a row

Oil prices were mixed today after Brent and West Texas Crude fell more than 1% as new cases of the Delta Covid-19 variant rose and fears increased about a re-closure of the economy and declining global demand for oil. Brent crude futures, the global benchmark, rose 0.2% to $73.59 a barrel, and US West Texas Intermediate crude futures rose 0.2% to $71.81 a barrel.

During the week, Brent crude fell by about 3%, which is the third weekly decline in a row for the first time since April 2020, and West Texas Intermediate crude fell by about 4% this week, which is the largest weekly decline since March