Oil headed for its longest stretch of daily declines since 2019 as the U.S. Federal Reserve’s signal it will start tapering stimulus promoted a rally in the dollar, and concerns continue to mount about global energy demand. West Texas Intermediate futures fell for a seventh day, taking the week’s drop to 7.3%. Other raw materials including copper and iron-ore dropped on Thursday following the Fed’s signal. The Bloomberg Dollar Index has risen every day this week, making commodities priced in the currency less appealing. Oil has been hit this month by the prospect of the Fed cutting back on its asset purchases despite the spread of the delta coronavirus variant risking an economic revival. The pandemic remains a threat to energy demand, especially across Asia, with key importer China restricting mobility to combat an outbreak. Crude’s bout of weakness comes as expectations ease for further large inventory draws in […]