Financial market turmoil sees fresh slide in crude,lowest iron ore prices for a decade and losses on global stock marketsThe world’s leading oil producers are preparing for the opportunity of oil prices halving to $20 a barrel after a second day of financial market turmoil saw a fresh slide in crude, the lowest iron ore prices in a decade, and losses on global stock markets.
Benchmark Brent crude briefly dipped below $40 a barrel for the first time since February 2009 before speculators took profits on the 8% drop in the cost of crude since final week’s abortive attempt by the oil cartel Opec to regular the market.
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Source: theguardian.com