Oil Prices finished up for the week ending July 30, 2021 and concluded a run of four consecutive positive months. Oil posted its fourth straight monthly gain as steady demand and tight supplies calmed concerns that a new wave of Covid-19 infections would cripple energy consumption. Futures in New York ended the week 2.6% higher. While cases of the virus’s delta variant have surged in recent weeks, mobility and other data point to strong demand in key economies that traders are watching. India posted the biggest gain in driving activity after restrictions were rolled back. “All the data right now is really positive,” said Rebecca Babin, senior energy trader at CIBC Private Wealth, US. “That’s what you’re seeing. We do have tight supplies right now, so it’s really hard for the commodity to pull back.” Oil futures are closing out a volatile July that saw prices whipsawing as the […]