February WTI Crude futures have plunged to new cycle lows at $28.60 (down 2.7%) as Iran supply looms over an already over-glutted global crude market. Brent is down even more (-3.7%). Dow futures are down 60 points at the open.
- *WTI OIL FALLS AS MUCH AS 2.7%, BRENT CRUDE DROPS 3.7%
Feb futures (which have just rolled) are under $29...
And the new on the run March contract is trading $29.60, down 2.6%...
Weighing on US equities... Dow futures down 65 points