Oil plunges to lowest level for five months amid global growth fears

The Guardian --------- Oil prices have fallen sharply along with other commodities as the prospect of slowing growth in the US and China blunts optimism about the global economy. Asian stocks fell for the third day running thanks to the oil price, which fell by 5% on concerns of a supply glut. Analysts have forecast further losses amid signs that demand will not be strong enough to soak up the excess production. “The rout in markets is unlikely to turn around quickly,” ANZ strategists wrote in a daily note. “Oil markets face further potentially bearish data.” To learn more click on the picture below to read the article.