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Oil prices plunged on Friday on concerns about oversupply, sending world stock markets lower as lagging energy shares weighed down Wall Street.
Both Brent and US crude fell to their lowest levels since October 2017, and prices were on course for their biggest one-month decline since late 2014. Although the Organization of the Petroleum Exporting Countries is expected to curb output, rising US oil supply has fueled persistent concerns about a global surplus.
Tumbling oil prices pushed US energy shares down more than 3 per cent. As a result, the benchmark S&P 500 stock index edged lower in
Both Brent and US crude fell to their lowest levels since October 2017, and prices were on course for their biggest one-month decline since late 2014. Although the Organization of the Petroleum Exporting Countries is expected to curb output, rising US oil supply has fueled persistent concerns about a global surplus.
Tumbling oil prices pushed US energy shares down more than 3 per cent. As a result, the benchmark S&P 500 stock index edged lower in
