Crude slide extends as market eyes US inventory data, delta variant

摘要

Crude oil futures settled lower July 27 as traders looked to upcoming US inventory and economic data for signs of next direction against a backdrop of rising coronavirus cases around the world. NYMEX September WTI settled down 26 cents at $71.65/b while ICE September Brent gave up 2 cents to settle at $74.48/b. "Oil, like other risk assets, has been in wait-and-see mode, something that will likely change in the coming hours and days," OANDA senior market analyst Craig Erlam said in a note, noting the American Petroleum Institute's US inventory data slated for July 27 and a bevy of US earnings releases expected in the coming days.