While you were sleeping: Oil weighs on equities

Mon, 28 Dec 2015

By Margreet Dietz Dec. 29 (BusinessDesk) - Wall Street moved lower with the price of oil amid concern about the global glut at a time of weakening worldwide economic growth. Oil dropped, pushing both US crude West Texas Intermediate futures and Brent crude more than 3 percent lower, on a subdued outlook. "The global supply and demand tables are still showing a heavy picture for the first half of 2016," Olivier Jakob, oil analyst at Petromatrix, told Reuters. Other commodities also fell after a report showed profits by Chinese indus...

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