Oil prices slip as IEA warns of slowdown in global demand recovery
LONDON (Reuters) -Oil prices declined on Thursday after the International Energy Agency (IEA) said the spread of the Delta variant of the coronavirus would slow the recovery of global oil demand.
Brent crude futures were down 15 cents, or 0.21%, at $71.29 a barrel by 1356 GMT, after earlier rising to a session-high of $71.90.
U.S. West Texas Intermediate (WTI) crude futures were down 22 cents, or 0.32%, to $69.03.
The international energy watchdog said in its monthly report that rising demand for oil reversed course in July and was set to proceed more slowly for the rest of the year after the latest wave of COVID-19 infections prompted countries to bring in restrictions again.
