Oil futures settle lower, with U.S. prices at lowest in nearly a week

U.S. oil futures settled lower on Tuesday as the spread of the coronavirus delta variant raised risks to the demand outlook for energy. "Oil prices appear to be treading water, currently caught between slowing growth concerns and tighter supply," said Michael Hewson, chief market analyst at CMC Markets UK. "The picture isn't being helped by reports the U.S. is tightening restrictions on some countries, while the U.K. is said to be looking at loosening them on the other side of the coin," he said. The Centers for Disease Control and Prevention was expected to change its policy later Tuesday on face masks in public settings for some parts of the U.S. as infections with the delta variant of the coronavirus spread, according to media reports. West Texas Intermediate crude for September delivery CLU21, -0.45% declined by 26 cents, or 0.4%, to settle at $71.65 a barrel on the New York Mercantile Exchange, the lowest front-month finish since July 21, FactSet data show.