IEA ‘Sharply’ Cuts Oil Demand Outlook on Delta Virus Concerns Oil steadied at the end of a volatile week in which the fast-spreading delta virus variant continued to cloud the demand outlook. Futures traded near $69 a barrel in New York after slipping on Thursday. The latest Covid-19 wave is leading to tighter curbs on movement across the globe, although there are mixed assessments on its impact. The International Energy Agency reduced its demand forecasts for the rest of the year, while Goldman Sachs Group Inc. predicts only a transient hit to consumption. “This week has laid bare the contrasting views on the impact of the new wave of Covid caused by the delta variant on the world’s appetite for oil,” said Stephen Brennock, an analyst at PVM Oil Associates Ltd in London. “Consensus is a rare commodity.” Delta has interrupted a rally that pushed oil prices more than […]