Oil prices gained for a second session, building on the biggest one-day gain in five months, amid glimmers of optimism among bulls that a hit to demand from the delta variant may be passing. Brent and West Texas Intermediate crude futures were both up by more than 1% in London. Both surged by more than 5% on Monday. Before the bounceback, the market had undergone its longest selloff in years on concern about demand caused by the variant. China has rapidly brought local virus cases down to zero and traffic is showing signs of recovery, although the variant continues to impact other regions. Separately, a fire on a Mexican oil platform wiped out more than 400,000 barrels a day of the nation’s output, curbing supply. “The Mexican disruption is something worth highlighting, depending on how long it stays offline,” said Giovanni Staunovo, commodity analyst at UBS Group. “Some of […]