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Global financial markets slip as oil price plunges to new lows

Discussion in 'Market News' started by Lily, Jan 6, 2016.

  1. Lily

    Lily Forum Member

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    Fears about China’s economy caused a third day of stock market falls around the world as tension between Saudi Arabia and Iran pushed oil to its lowest level for a decade

    Global financial markets suffered a third day of new year turbulence after fresh fears for the health of China’s economy and tension between Saudi Arabia and Iran sent the price of oil plummeting to its lowest level in more than a decade.

    In a move that motoring organisations said would trigger further cuts in petrol prices, the cost of Brent crude dropped by 5% during trading in London to stand at $34.60 (£23.66) a barrel.

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