Crude oil prices sunk to fresh low points on Monday, dragging down the share prices of energy companies, while miners were hit by weak Chinese manufacturing data, traders said.”Oil sector stocks have driven the FTSE lower,” said market analyst Alastair McCaig from the IG trading group.Countering the downward trend, shares in German power giant E.ON soared on company’s plans to spin off its conventional energy operations and focus on renewables.Oil futures tumbled to their lowest levels for five years on Monday, extending last week’s sharp sell-off in response to OPEC’s decision to maintain output despite a supply glut and plunging …read more
Source: Egypt Independent
