A brutal new year selloff in oil markets deepened on Monday, with prices plunging more than 6 percent to new 12-year lows as further ructions in the Chinese stock market threatened to knock crude into the $20s.

On Monday, China’s blue-chip stocks fell by another 5 percent and overnight interest rates for the yuan outside of China soared to nearly 40 percent, their highest since the launch of the offshore market.

Morgan Stanley warned that a further devaluation of the yuan could send oil prices spiraling lower still, extending the year’s nearly 15 percent slide.

Read more


NEWSLETTER SIGNUP

Get the latest breaking news & specials from Alex Jones and the Infowars Crew.

Related Articles


FROM AROUND THE WAR


Comments