SINGAPORE: Oil prices fell nearly $1 on Monday as concerns about fuel demand from the spread of COVID-19 variants, as well as floods in China, offset expectations of tight supplies through the rest of the year.
Brent crude futures for September fell 95 cents, or 1.3%, to $73.15 a barrel by 0627 GMT while U.S. Texas Intermediate crude was at $71.11 a barrel, down 96 cents. Earlier, both contracts dipped just over $1.
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