Oil prices tumbled more than 2.5 percent early on Friday, dragged down by concerns that oil demand in the world’s top oil importer, China, could falter amid rising COVID-19 cases and expanding lockdowns. As of 9:35 a.m. ET on Friday, WTI Crude prices had slipped below $52 a barrel, and were trading down 2.60 percent at $51.73. The international benchmark, Brent Crude , had fallen below $55, with the price down 2.28 percent at $54.79. Oil prices lost further ground on Friday from the 11-month high they had hit last week, when the Saudi surprise cut was still supporting gains. This week, the price of oil rose on Tuesday and Wednesday , as the market expected the new U.S. Administration to “act big” in the next COVID relief package. The U.S. dollar dropped after Treasury Secretary nominee Janet Yellen told the Senate Finance Committee on Tuesday that the U.S. […]