Oil headed for the biggest weekly loss since mid-March as a resurgence of Covid-19 and uncertainty around the prospect for an OPEC+ deal to increase supply clouded the short-term outlook. Futures in New York fell 0.6% toward $71 a barrel after closing at the lowest in a month on Thursday. The fast-spreading delta variant is sweeping across the globe, leading to renewed restrictions and curbing fuel demand. The United Arab Emirates is nearing a deal that would give it better terms and allow OPEC+ to boost output in the coming months, although details remain scant. A stronger dollar has also weighed on crude this week, making raw materials priced in the U.S. currency less attractive to investors. The Bloomberg Spot Dollar Index climbed to the highest level since early April on Tuesday. Oil has run into headwinds in July after climbing in seven of the previous eight months as […]