Oil extended losses to hit the lowest levels since May

International benchmarks for crude oil registered another session of losses on Thursday, 19 August 2021 on the back of deepening concerns over the Delta variant spread the curtails demand worldwide. In addition, the strengthening US dollar also contributed to the weakness in crude oil prices.  

Brent lost $1.78 or 2.6% to close at $66.45/barrel.

WTI fell $1.71 or 2.6% to settle at $63.50/barrel.