Wednesday, 20 January 2016

Asia stocks struggle as oil hits fresh lows

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Asian share markets slipped early Wednesday as a relentless slide in oil prices wiped out an attempted rally on Wall Street and dealt a fresh blow to risk appetite. 

US crude wallowed at its lowest since 2003 after the world's energy watchdog warned the market could "drown in oversupply". US crude futures CLc1 shed another 49 cents to a new trough at USD 27.97 in early trade, while Brent crude LCOc1 was quoted at USD 28.76 a barrel.

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