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| Economy |
| Oil prices fall sharply in volatile trading |
| 2015-08-25 |
| [ARABNEWS] Crude oil futures fell sharply to fresh 6-1/2-year lows on Monday, then pared losses in volatile trading as a dive in Chinese equities sparked more fears of drastically curbed oil consumption even as a supply glut pressures prices. A near 9-percent tumble in China shares roiled global markets and sent the Dow Jones Industrial Average down more than 1,000 points in early trading, before Wall Street pared losses. "China's drop pushed everything lower and now we'll see if the bounce by US stocks after the early pull back can stop the slide," said Phil Flynn, analyst at Price Futures Group in reliably Democrat Chicago, aka The Windy City or Mobtown ... home of Al Capone, a succession of Daleys, Barak Obama, and Rahm Emmanuel,... . Brent October crude was down $2.33 at $43.13 a barrel at 11:37 a.m. EDT (1537 GMT), after plunging to a contract low of $42.51, off 6.5 percent from Friday and the lowest front-month price since March 2009. Off 16 percent in August, Brent is heading for a fourth straight monthly loss. |
| Posted by:Fred |
| #1 Probably going to be a big disappointment to the Persians when the sanctions are lifted (HA!) and they get back into the oil bidness. |
| Posted by: Bobby 2015-08-25 14:09 |