Oil futures drop, with U.S. prices posting the largest one-day loss since September

Oil futures dropped Monday, pressured on the heels of an OPEC+ deal to boost output and on concerns that the spread of the COVID delta variant will slow oil demand. West Texas Intermediate oil for August delivery
lost $5.39, or 7.5%, to settle at $66.42 a barrel on the New York Mercantile Exchange. Prices saw the biggest one-day percentage loss since Sept. 8 and settled at their lowest since late May, FactSet data show.

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