Virus variant threatens to cool oil demand recovery – Reuters poll By Reuters – Investing.com UK

Virus variant threatens to cool oil demand recovery – Reuters poll By Reuters – Investing.com UK

By Eileen Soreng

(Reuters) - Oil prices will trade near $70 per barrel for the rest of the year supported by the global economic recovery and a slower-than-expected return of Iranian supplies, with further gains limited by new coronavirus variants, a Reuters poll showed on Friday.

The survey of 38 participants forecast would average $68.76 per barrel, up slightly from June's $67.48 estimate. Brent has averaged about $66.57 so far this year.