Crude Oil Falls the Most in a Month as Global Equities Slump

Crude oil prices fell the most in a month as Chinese equities led a global slump on concern a slowdown in lending may derail an economic recovery in the world’s second largest energy consuming country. Oil futures declined for the first time in three days after the Shanghai Composite Index, China’s benchmark, tumbled 6.7 percent on a report that the nation’s banks cut lending. U.S., Asian and European stocks followed the Chinese market lower. “All of what we are seeing today can be blamed on the Chinese stock-market selloff,” said Tom Bentz, a senior energy analyst at BNP Paribas Commodity Futures Inc. in New York. “The Chinese markets have helped support commodities. Price rises have been based on expectations of increased economic growth and demand in China”.....Read Complete Article