Oil futures tally a third-straight session gain to trade higher week to date
Oil futures marked their third-consecutive gain on Thursday, as U.S. prices continued to rebound from Monday's more than 7% drop. Front-month contract prices for West Texas Intermediate turned higher for the week so far, as traders weighed the risks to global oil demand amid the rise in COVID cases linked to the spread of the coronavirus delta variant. On its first full day as a front-month contract, WTI for September delivery climbed by $1.61, or 2.3%, to settle at $71.91 a barrel on the New York Mercantile Exchange. The August WTI contract, which was the front month at the end of last week, had settled at $71.81 last Friday, FactSet data show.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.