Oil has also been under pressure amid investor unease with stocks and commodities perceived as being riskier. All three major indexes have been pushed into correction territory. WTI Crude is $48.44; Brent is $58.12 this morning.
New oil and gas projects are likely to increase next year from 2015 lows, but overall spending is unlikely to be enough to meet future demand say analysts. WTI Crude is $51.62; Brent is $61.13 this morning.
A stronger dollar cut global demand for U.S.-priced commodities easing oil prices. Signs of China's economic slowing hit stocks and raised fresh concerns about the giant’s thirst for oil. WTI Crude is $52.55; Brent is $61.49 this morning.
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