News Snapshot:
Oil futures fell Monday, pressured as Beijing moved to contain a renewed rise in COVID-19 cases and global equities tumbled as shock waves from last week’s hotter-than-expected U.S. consumer-price index reading continued to ripple through financial markets. Price action West Texas Intermediate crude for July delivery CL.1, -1.71% CL00, -1.71% CLN22, -1.71% fell $1.89, or 1.6%, to $118.78 a barrel on the New York Mercantile Exchange. August Brent crude BRN00, -1.58% BRNQ22, -1.58% , the global benchmark, declined $1.64, or 1.3%, to $120.33 a barrel on ICE Futures Europe. WTI and Brent hit three-month highs last week. Back on Nymex,...
