Oil price sinks and global equities rally cools

Oil dips by $4 in 2 days as output cut standoff lingers

Oil prices sunk on Tuesday and a global equities rally that had kicked off the week fizzled, as a month of choppy trading neared its end and investors awaited word on a potential stimulus deal out of Washington. The benchmark S&P 500 index slipped 0.5 per cent, ending a three-day streak of advances. US stocks were weighed down by the energy sector as shares of the oil majors ExxonMobil and Chevron both fell more than 2 per cent. Brent crude, the oil price benchmark, settled 3.3 per cent lower at…

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