ICMS,Inc News Journal
Source: CNBC/Reuters
Posted Januray 7, 2016
Global benchmark Brent crude fell as much as 6 percent to nearly $32 a barrel, its lowest level since at least April 2004, as another free fall in the Chinese stock market rattled investors already concerned by the world glut in crude.
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| Crude Oil Barrels |
China allowed its yuan currency to slip on Thursday, sending regional currencies and stock markets tumbling globally.
Stock market trading was suspended less than half an hour after opening after sharp falls triggered a new circuit-breaking mechanism for a second time since its introduction this week.
U.S. government data on Wednesday showed a 10.6 million-barrel surge in gasoline supplies, the biggest weekly build since 1993, rattling investors already concerned by near-record production and massive stockpiles around the world......Read more
Link: Oil Prices and stocks hit session lows on speculation of more China devaluation
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