Oil tumbled as Delta virus variant spread

International benchmarks for crude oil fell sharply on Monday, 2 August 2021 as the fast-spreading Delta variant threaten demand while Saudi Arabia, Kuwait, and UAE boosted crude shipments to multi-month highs in July, highlighting the return of supply.

Brent for October delivery plunged $2.52 to settle at $72.89/barrel.

WTI for September dropped $2.69 to $71.26/barrel.