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Brent crude tumbles below $40 in wake of faltering demand outlook

A stall in Asia's recovery, the end of the US summer driving season and increased supply from the OPEC+ alliance signal a bleak short-term outlook for oil prices

oil, prices, crude
Equity markets also weakened, leading crude to break below the key psychological barrier of $40 a barrel

Crude in London tumbled below $40 a barrel for the first time since late June in the wake of faltering demand and weaker equities dampening market sentiment.   Brent futures declined more than 6% on Tuesday to the lowest level in nearly three months. A stall in Asia’s recovery, the end of the US summer driving season and increased supply from the OPEC+ alliance signal a bleak short-term outlook for oil prices. Equity markets also weakened, leading crude to break below the key psychological barrier of $40 a barrel.   “The lack of fiscal support is starting ...