Oil drop

• Warnings of $100 crude are rapidly fading from memory as oil continues to tumble on international markets.
• A barrel of West Texas Intermediate for December delivery was trading at $66.38 by 5:45 a.m. Eastern Time, almost 14 percent below the high reached earlier this month, while a similar Brent contract was at $75.64.
• A risk-off mood in the wider market, plus comments from Saudi Energy Minister Khalid Al-Falih saying that OPEC and its allies are in “ produce as much you can mode” have put pressure on prices.

Source: Bloomberg