U.S. Markets closed

Oil falls as global equity rout takes a toll on demand optimism

MarketWatch
Oil falls as global equity rout takes a toll on demand optimism

Oil futures remained under pressure Thursday, unable to escape the pull of a global equity rout that may also reflect concerns about global economic growth prospects. “In an environment of sharply falling stock markets, oil prices have likewise been under pressure since yesterday,” wrote Eugen Weinberg, head of commodity research at Commerzbank, in a note. West Texas Intermediate crude futures for November delivery CLX8, -1.61%  fell $1.23, or 1.7%, to $71.95 a barrel. The global benchmark, Brent crude for December delivery LCOZ8, -1.87%  on the ICE Europe exchange lost $1.35, or 1.6%, to $81.74 a barrel. Wall Street saw a sharp selloff on Wednesday, with the Dow Jones Industrial Average DJIA,