Oil stabilizes at 7-month low, European stocks slide
Weakened oil has put a damper on rally
Oil prices have stabilized at more than 7-month lows as markets continue to be wary of production increases from the US and others. Brent is standing at US$45.14 this morning, with WTI crude at 42.73.
The fall of oil prices has had some spillover effect into equities markets, seeing the rally to record levels of many indices come to a screeching halt this week. Major European markets and China are down Thursday, led by France and the UK.