Brent oil clawed back some losses after tumbling to an eight-week low amid a broader market rout stoked by a Covid-19 resurgence, which has raised concerns about the short-term outlook for energy demand. Futures in London rose back above $69 a barrel after plunging 6.8% on Monday, the most since March. The fast-spreading delta variant has led to a surge in virus cases and renewed restrictions as it sweeps across the globe from Asia to Europe. A stronger dollar has also weighed on crude, making raw materials priced in the U.S. currency less attractive to investors. “There is still potentially more downside pain ahead in the short-term, but in the bigger picture, the delta variant will only slow the global recovery and not bring it to a halt,” said Jeffrey Halley, an analyst at Oanda Asia Pacific. Oil has run into stiff headwinds in July after rising in seven […]