Oil Prices Tumble as Equities Sell Off

(Reuters) - NEW YORK - Oil prices fell about 5 percent on Thursday hitting their lowest level in more than a year on worries about oversupply and the outlook for energy demand as a U.S. interest rate rise knocked stock markets. Brent crude LCOc1 futures fell $2.89 or 5.05 percent to settle at $54.35 a barrel. U.S. West Texas Intermediate (WTI) crude CLc1 futures fell $2.29 or 4.75 percent to settle at $45.88 a barrel. Read More