Oil Declines After News Today : Breaking News, Live Updates & Top Stories | Vimarsana

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Goldman Sachs Group Inc. said that the deal would support its constructive view on oil, while cautioning that near-term prices may “gyrate” amid concern about the delta variant. The group’s planned increase in supply was “moderate” and would keep the market in deficit, the bank said in a report.
Brent’s prompt time spread was little changed at 63 cents a barrel in backwardation, a bullish pattern with near-dated prices trading above those further out. That’s down from 74 cents a week ago.
The delta variant is still on the ascendant, especially among the unvaccinated, with some countries reimposing curbs. In Asia, Indonesia, Thailand, South Korea, Vietnam and Singapore are all dealing with outbreaks. Elsewhere, the U.K. on Saturday reported the most cases since January. ....

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