Oil prices fell 2 percent in Asian trade on Wednesday, as a worries in China continue to hit commodities.
Brent and U.S. crude finished around 8 percent lower on Tuesday after finishing up 25 percent in the three days to Monday, the largest three-day gain since 1990.
Ric Spooner, chief market analyst at Sydney’s CMC Markets told Reuters the volatility in oil is likely to continue:
“Any change in sentiment tends to be amplified. Any change in direction in the oil markets has the potential to be risk driven by what’s going on in the equity markets,” he said.
Crude is currently down 8.35 percent at $45.41 a barrel, with Brent at $49.56, down 9.26 percent.
