Oil prices drop amid currency and stock market turmoil
Updated : January 03, 2019 08:01 AM IST
US West Texas Intermediate (WTI) crude oil futures were at $45.83 per barrel at 0120 GMT, down 71 cents, or 1.5 percent, from their last settlement. International Brent crude futures were down 51 cents, or 0.9 percent, at $54.40 per barrel.
Markets were roiled by a more than 3 percent crash of the US-dollar against Japan’s yen overnight, and after US tech giant Apple cut its sales forecast.
The slowdown in China and turmoil in stock and currency markets is making investors nervous, including in oil markets.