Oil slips but set to end week steady on tight supply | Reuters
Oil slipped further below $74 a barrel on Friday but was on track to end the week little changed after a surprising recovery from Monday's slide, underpinned by expectations that supply will remain tight as demand recovers.
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 29 cents, or 0.4%, at $73.50 a barrel by 1335 GMT after jumping 2.2% on Thursday. U.S. West Texas Intermediate (WTI) crude dropped 13 cents, or 0.2%, to $71.78, having gained 2.3% on Thursday.
"Clearly, oil bulls are back in town," said Stephen Brennock at oil broker PVM. "But that is not to say that virus concerns have completely vanished."
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