Markets tumble amid sliding oil prices

Markets tumbled on opening this morning as traders reacted to sliding oil prices, and as Royal Dutch Shell said its earnings are expected to more than halve for 2015. The FTSE 100 Index fell 3%, or 175.2 points, to 5699.5 after the price of Brent Crude fell below $27.50 before staging a slight recovery.

Oil & Gas

US oil is too good, too expensive and too far for Asia buyers

In the world’s biggest oil market, buyers have better options than US crude. As the country inches toward ending the last restrictions on exports, Asian buyers will probably have a limited appetite for the quality of crude on offer. Many of the region’s refiners are geared to process heavier, cheaper oil with higher sulfur content.