Crude Oil Tumbles as OPEC Ministers Gather for Policy Meeting

Oil decreased for the third time in four days as ministers from the Organization of Petroleum Exporting Countries arrive in Vienna to discuss production policy. Crude fell as much as 4.2 percent in New York amid a broad commodity slump. Prices briefly rose after the Iranian Oil Ministry’s Shana news agency said a majority of OPEC members agree on an output cut, with the exception of Saudi Arabia and Gulf Arab countries. U.S. crude supplies...

Gold ends near 6-year low as Yellen comments point to rate hike

Gold futures on Wednesday marked their lowest settlement in nearly six years, as a rise in November U.S. private-sector employment and comments from the Federal Reserve’s chairwoman supported the likelihood that the central bank will agree to raise interest rates when it meets in two weeks. Gold for February delivery on Comex fell $9.70, or 0.9%, to settle at $1,053.80 an ounce. The settlement was the lowest since Feb. 5, 2010. March...

Asian Stocks Slide Second Day as Drop in Oil Hits Energy Shares

Asian stocks fell for a second day, following U.S. shares lower, as a drop in oil weighed on energy shares. The MSCI Asia Pacific Index lost 0.2 percent to 133.59 as of 9:01 a.m. in Tokyo, with material and energy companies leading losses among the regional measure’s 10 industry groups. U.S. crude traded at $40.20 a barrel after slumping to $39.94 in the previous session amid signs of discord between members before Friday’s OPEC meeting...

Japanese Stocks Fall, Led by Energy Explorers, as Oil Plunges

Japanese stocks fell, led by energy explorers, after crude oil plunged below $40 a barrel. The Topix index dropped 0.2 percent to 1,599.12 as of 9:01 a.m. in Tokyo as all but eight of its 33 industry groups retreated. The Nikkei 225 Stock Average lost 0.3 percent to 19,988.35. The yen traded at 123.24 per dollar after weakening 0.3 percent on Wednesday as Federal Reserve Chair Janet Yellen laid the groundwork for the first U.S. rate increase...

U.S. Stocks Drop as Energy Weighs Amid Selloff in Commodities

U.S. stocks fell as tumbling oil prices sparked a broader selloff in equities, while Federal Reserve Chair Janet Yellen signaled increased confidence in the economy, laying the groundwork for a December interest-rate increase. Equities continued a pattern of alternating between gains and losses that led the S&P 500 in November to its narrowest monthly move in six years. Energy producers today dropped the most in two months as crude...