# Oil rally falters on pandemic surge, renewed Mexico supply

> Oil settled lower on Thursday, snapping a three-day rally. Traders reacted to rising COVID-19 infections that raised demand concerns, and to Mexico restoring some output after a fire disrupted supplies. Brent settled down $1.18 at $71.07 and WTI fell 94 cents to $67.42.

- Date: 2021-08-26 · published 2021-08-26T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/45728-oil-rally-falters-on-pandemic-surge-renewed-mexico-supply
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Weaker demand expectations from COVID-19 and partial supply recovery in Mexico reduce near-term crude prices. Lower energy costs ease pressure on biofuel feedstock and transport expenses.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Sources

- reuters.com: https://www.reuters.com/business/energy/oil-prices-fall-first-day-four-virus-concerns-return-2021-08-26/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.