Oil prices staged a stunning comeback on Tuesday as traders reassessed the impact of the Covid-19 Delta variant of the on demand and after the US Senate approved a $1.2 trillion infrastructure development bill. Both Brent and West Texas Intermediate (WTI) jumped 2% higher during the session, erasing the previous day’s battering. Analysts say part of the rally came from profit-taking, as traders who held short positions before Monday’s steep decline opted to sell and lock in a tidy profit (OD Aug.9’21).
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