Oil slumps to $32 as fears about China's economy grow - Jan. 7, 2016

Oil prices slumped to their lowest levels in more than 10 years Thursday as another dramatic fall on China's stock markets stoked fears of slowing energy demand in the world's second biggest economy.



U.S. crude futures dropped as much as 5.5% to just above $32 per barrel, a level not seen in more than a decade. This followed a drop of 6% on Wednesday. Brent crude, another global benchmark, slid more than 5.3%.



Oil slumps to $32 as fears about China's economy grow - Jan. 7, 2016