Fears about Chinas economy prompt third day of stock market falls,while tension between Saudi Arabia and Iran pushes oil to its lowest level for a decadeGlobal financial markets suffered a third day of current year turbulence after fresh fears over the health of Chinas economy and tension between Saudi Arabia and Iran sent the price of oil plummeting to its lowest level in more than a decade.
In a trek that motoring organisations said would trigger further cuts in petrol prices, the cost of Brent crude dropped by 5% during trading in London to stand at $34.60 (£23.66) a barrel.
Continue reading...
Source: theguardian.com