Oil falls to three week low as Delta variant of Covid-19 continues to mount pressure on demand outlook. Oil slid to a three-week low with new waves of Covid-19 exacerbating demand concerns as investors weighed concerns about a pullback in stimulus. Futures in New York ended the day down by more than 2.6%. Federal Reserve Bank of Atlanta President Raphael Bostic said the central bank should move to taper asset purchases after another strong month or two of employment gains. At the same time, Chinese air travel dropped the most since early in the pandemic as rising cases of the delta variant spurred fresh restrictions on movement. “Chinese mobility on roads and air traffic is down, so what traders are wondering now is whether or not other large oil consuming and producing regions will start to see a China-like demobilization,” said Vikas Dwivedi, Oil & Gas Economist at Macquarie […]