Oil prices dropped by 1 % on Friday (August 6th) by recording the most powerful week in months due to stress of travel tightening to prevent the spread of Covid-19 Delta will make the movement of global renewable energy needs.



The future raw oil contract is also under pressure as the USD strengthens after the growth of July, USA is better than the forecast. USD can make oil stronger as well, making oil more expensive for buyers with other currency.
After Friday's trade session, Brent's raw oil contract has dropped 59 cents (or 0.8 %) to $ 70.70 / barrel. WTI oil contract lost 81 cents (or 1.2 %) to $ 68.28 / barrel.
This week Brent's raw oil contract has dropped over 6 % which is the biggest week of four months and the WTI oil contract has dropped nearly 7 % seeing the worst week in nine months.
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Baker Hughes's data on Friday has announced that US oil drill increased by 2 to 387 units this week. The increase of oil drill devices has decreased in the last few months.