TeleTrade - Analytics

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    12.01.2016 07:13 Oil prices plunged

    West Texas Intermediate futures for February delivery fell to $30.42 (-3.15%), while Brent crude dropped to $30.44 (-3.52%) resetting 12-year lows and suggesting that prices may fall further. Investors continue to panic over Chinese stock turmoil and the recent yuan devaluation, which point to a weaker-than-expected growth of the economy of the world's second-biggest oil consumer. Morgan Stanley said that a further devaluation of the yuan could send oil prices down into the $20-$25 per barrel range.


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