The Energy Bulletin Weekly – 23 August 2021
Last week ended with the longest losing streak since 2019 as the dollar strengthened after the Federal Reserve signaled it would start tapering stimulus and the virus resurgence raises doubts about demand growth. West Texas Intermediate futures closed Friday 2.2% lower, tumbling for the seventh day, and extending the week’s decline to 8.9%. The pandemic remains a threat to energy demand, especially across Asia, with China restricting mobility to combat an outbreak.