Oil fell as a coronavirus resurgence raised concerns about demand ahead of an OPEC+ meeting this week that could see the alliance boost some halted output. Futures in New York extended declines toward $72 a barrel. The infectious delta variant of the virus has resulted in a spike in U.K. cases and is taking a toll on mobility in some parts of Asia. While the crude market has tightened, the latest flare-up could play a part when OPEC+ gathers Thursday to decide on output levels in August. Despite oil’s recent loss of momentum, prices are still up about 9% this month. Key regions including the U.S. and China are rebounding from the virus, while India’s biggest refiner is boosting fuel production. Futures and swaps in leading pricing locations are in a bullish backwardation structure, although the spread is narrowing in what could be early signs of some weakness. Monday’s […]