Brent crude oil futures were up 47 cents at $71.76 a barrel at 0640 GMT while U.S. West Texas Intermediate crude futures rose 45 cents to $69.54 a barrel, but both contracts have given up 6% this week, the most since March.
"The Delta variant is now really starting to hit home and you see risk aversion in many markets, not just oil." "At least 46 cities have advised against travelling, and authorities have suspended flights and stopped public transport. This could impact oil demand as it comes towards the end of the summer travel season," ANZ said in a report.However, worries over rising tensions between Israel and Iran limited the decline in prices.
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