While you were sleeping: Oil spurs global stock rout

Wed, 20 Jan 2016

By Margreet Dietz Jan. 21 (BusinessDesk) - Wall Street and stocks elsewhere plunged with oil prices, spurring investors to seek the perceived safety of US Treasuries, amid concern about the global crude glut and the worldwide economy. US crude for February delivery, which expires at the end of the day, sank as low as US$26.85. “It is the third year in a row we have more supply than demand,” Fatih Birol, executive director of the International Energy Agency, told Bloomberg. “Prices will be still under pressure. I don’t see any reason w...

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