Oil futures end more than 3% lower to kick off August

Oil futures slumped Monday, kicking off August on a down note as investors weighed weaker-than-expected, survey-based readings on economic activity in China and the U.S. and continued to monitor the spread of the Delta variant of the coronavirus that causes COVID-19. West Texas Intermediate crude for September delivery cloo CLU21, -3.34% fell $2.69, or 3.6%, to close at $71.26 a barrel on the New York Mercantile Exchange.