Oil traders bought the dip Tuesday, with crude futures rising sharply to erase a Monday selloff. West Texas Intermediate crude for September delivery
CL00,
+2.90%
CLU21,
+2.90%
rose $2.23, or 3.4%, to $68.71 a barrel on the New York Mercantile Exchange. Oil fell sharply Monday, dropping more than 4% at its session low, in a move blamed partly on worries about the spread of the delta variant of the coronavirus that causes COVID-19. Crude ended more than 2% lower Monday at a three-week low.