WTI Falls Below $70 On Global Rise In COVID Cases

The U.S. benchmark, WTI Crude, slumped below $70 per barrel early on Tuesday in the second day of sell-offs triggered by surging COVID cases worldwide, including in the biggest economies, the United States and China. As of 10:10 a.m. EDT, WTI Crude was down to $69.35, down 2.81% on the day, and Brent Crude traded at $71.25, down by 2.21%.   Oil prices started August with a loss on Monday, plunging by more than 3 percent as Delta variant cases in the world continue to climb. The Delta variant has spread to 32 Chinese provinces within the last…