Europe slides as oil, autos tumble; earnings eyed – CNBC

11 months ago Comments Off on Europe slides as oil, autos tumble; earnings eyed – CNBC

In global markets, Asia came under pressure finishing mixed on Friday, while U.S. markets traded lower as oil continued to weigh on sentiment.

Oil prices fell on Friday after supply glut concerns grew, following data out from the Energy Information Administration, which showed U.S. crude inventories had risen by 2.1 million barrels last week.

Brent was off more than 2 percent, trading around $33.55, while U.S. crude hovered around $29.70. This put oil and gas stocks under pressure, with Seadrill off 8 percent. Sbm Offshore, Tullow Oil and Subsea 7 were all sharply lower.

Europe slides as oil, autos tumble; earnings eyed – CNBC