| Oil prices fell for a fourth day on Thursday, lurching again to 12-year lows as new financial market tumult in China brought a $30 per barrel handle within view. Oil has fallen every day this year, losing nearly 10 percent in a sudden dive that makes last year's Goldman Sachs warning of sub-$30 crude seem not so outlandish after all.
"Can we go down another $3 a barrel? In percent terms, that's another 10 percent and could happen in a matter of one or two days of trading," said Greg Sharenow, executive vice-president overseeing a $16 billion commodities portfolio for the Pacific Investment Management Company in Newport Beach, California...............................................Full Article: Source
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