Oil futures fell Monday, with the commodity under pressure after a round of weak China data underscored the potential damage to demand from the spread of the delta variant of the coronavirus that causes COVID-19.
West Texas Intermediate crude for September delivery
CL00,
CLU21,
fell $2.02, or 3%, to $66.42 a barrel on the New York Mercantile Exchange. October Brent crude
BRN00,
BRNV21,
the global benchmark, was off $1.79, or 2.5%, at $68.80 a barrel on ICE Futures Europe.
July data out of China showed retail sales and industrial production disappointed, along with a January-to-July measure of fixed-asset investment. Meanwhile, the Taliban’s takeover of Kabul and the fall of the Afghanistan government was seen contributing to a weaker tone in financial markets but did little to add…
