Economics
Oil Tumbles on Saudi Move as U.S. Stocks Fall, Treasuries Climb
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Oil tumbled to a three-year low as Saudi Arabia’s price cuts exacerbated concern over a global glut in the commodity. Energy shares drove the Standard & Poor’s 500 Index lower with the dollar, while Treasuries climbed.
West Texas Intermediate crude slid 2 percent to $77.19 a barrel in the U.S., the lowest settlement price since October