While you were sleeping: Oil sinks to new lows

Mon, 11 Jan 2016

By Margreet Dietz Jan. 12 (BusinessDesk) - Wall Street traded lower with the price of oil and intensifying concern about China, while investors awaited the start of the US earnings season. Oil sank. US West Texas Intermediate last traded at US$31.10 per barrel after sliding below US$31 earlier in the day to the lowest level since December 2003. Brent crude futures recently traded at US$31.40 a barrel, after earlier touching the lowest level since April 2004. “Oil in the $20s is possible,” Morgan Stanley analyst Adam Longson wrote in a...

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