Crude oil prices tumbled to their lowest since October 2, stung by a strong dollar and concerns about global demand.
OPEC is going to keep pumping record amounts of oil despite dwindling demand, hoping to put further pressure on non-OPEC rivals such as the US and Canada.
Nov. oil falls $1.37, or 2.9%, to settle at $45.89/bbl on Nymex.
China reported its economy grew 6.9% in the third quarter, the weakest rate since the global financial crisis in 2009.
Homebuilder confidence in the U.S. unexpectedly improved in the month of October, according to a report released by the National Association of Home Builders on Monday.
The report said the NAHB/Wells Fargo Housing Market Index climbed to 64 in October from a downwardly revised 61 in September.
The material has been provided by InstaForex Company – www.instaforex.com