Oil Down Again to 12-Year Low; $30 Handle Looks More Likely
China allowed its yuan currency to slip on Thursday, sending regional currencies and stock markets tumbling globally. Stock market trading was suspended less than half an hour after opening after sharp falls triggered a new circuit-breaking mechanism for a second time since its introduction this week.
The crash raises the risk of slowing demand from the world's No. 2 oil consumer, threatening to prolong an over year-long supply overhang.
Prices also trimmed early losses after violence in the Middle East and North Africa offered a measure of support.
A military training centre in the Libyan town of Zliten was hit by a truck bomb, causing dozens of casualties, witnesses said, while dozens of air strikes hit the Yemeni capital Sanaa.
(Editing by Marguerita Choy)
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