NEW YORK: Oil slumped on Monday over concerns about spreading COVID-19 variants derailing the global economic recovery that has brought fuel demand to near pre-pandemic levels, while tight crude supplies kept prices from falling lower.
Brent crude for September settled at US$75.16 a barrel, losing 39 cents, or 0.5%. U.S. West Texas Intermediate crude for August settled at $74.10 a barrel, down 46 cents, or 0.6%.
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