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oil price

oil price
The sun sets behind a crude oil pump jack on a drill pad in the Permian Basin in Loving County, Texas, U.S. . REUTERS/Angus Mordant/File Photo

KONTAN.CO.ID - NEW YORK. Oil prices fell on Friday but was on track to end the week little changed after a strong recovery from Monday's steep slide, underpinned by expectations that supply will remain tight through the year.

The price of oil and other riskier assets tumbled at the start of the week on concern over the impact on the economy and crude demand from surging cases of the COVID-19 Delta variant in the United States, Britain, Japan and elsewhere.

Brent crude was down 24 cents, or 0.3%, at $73.55 a barrel by 10:53 a.m. (1453 GMT) after jumping 2.2% on Thursday. U.S. West Texas Intermediate (WTI) crude dropped 28cents, or 0.4%, to $71.63, having gained 2.3% on Thursday.

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