While you were sleeping: Oil slick spreads

Mon, 15 Dec 2014

By Margreet Dietz Dec. 16 (BusinessDesk) - Wall Street swung from gains to losses as investors took positions as US Federal Reserve policy makers prepared to start a two-day meeting on Tuesday, and as oil prices continued their free-fall. Oil tumbled further after United Arab Emirates said oil exporters would not cut output even if prices slide as low as US$40 a barrel. West Texas Intermediate for January delivery dropped 2.4 percent to US$56.45 a barrel on the New York Mercantile Exchange. Brent for January settlement slid 0.8 percent to...

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