Original title: us oil fell nearly 4%, want to step back 65, the rebound of the epidemic overshadowed the prospect of demand recovery

On Monday (Aug. 9), US Oil continued its sharp decline of nearly 4 per cent last week on the back of a rising dollar and fears that new outbreak control measures in Asia could hamper the recovery in global fuel demand.

As of press time, the futures price of US crude oil was down 3.79% at US $65.25 per barrel, while the futures price of Brent crude oil was at US $67.75 per barrel, down 4.17%. Last week, US oil fell nearly 7 per cent, the biggest weekly decline in nine months, while Brent crude futures fell 6 per cent, the biggest weekly decline in four months.

Royal Bank of CanadaAnalyst Gordon Ramsay said in a report that with the acceleration of Delta variant infection rate, concerns about a potential decline in global oil demand resurfaced.

ANZ analysts pointed to new restrictions in major emerging market countries as a major factor overshadowing the outlook for demand growth.

These restrictions include the cancellation of flights, the issuance of travel warnings by 46 cities and restrictions on public transport and taxi services in 144 of the worst-hit areas. In Malaysia and Thailand, more than 20,000 people are infected every day. In addition, as new confirmed cases of COVID-19 rise again, the European Union is likely to discuss re-imposing travel restrictions on tourists from the United States this week.

ANZ analysts said in a report that while the number of novel coronavirus infections in major emerging market countries was low, it was during the summer travel season, overshadowing signs of strong demand elsewhere.

According to the latest statistics from Johns Hopkins University in the United States, as of 08:21 Beijing time on August 9, there were 202660933 confirmed cases and 4293530 deaths in the world. According to the latest epidemic data released by Johns Hopkins University, there were 35762495 confirmed cases and 616828 deaths in the United States.

In addition, ABC reported on the 9th that Francis Collins, director of the National Institutes of Health (NIH), said in the media's "this week" column on the 8th that the United States had "failed" to control the proliferation of Delta mutant strains. In the same day's program, it was reported that Collins said vaccination would play a role in slowing the spread of the epidemic. But at the same time, he acknowledged that the current domestic politics in the United States has polarized the public on epidemic mitigation strategies.

According to the latest data from the US Centers for Disease Control and Prevention (CDC), the number of new confirmed cases of COVID-19 in a single day in the country exceeded 100000 on Saturday, the fourth day in a row. On Friday, the United States recorded the highest number of new confirmed cases in a single day in six months, with more than 120000.

Institutional analysts believe that affected by the spread of Delta variants, travel restrictions have been re-adopted in many parts of the world, multinational export data show signs of weakness, while OPEC and its allies also increased supply this month, jointly driving down oil prices.

A stronger dollar makes oil more expensive for holders of other currencies. Trading was light on Monday due to holidays in Japan and Singapore.