Oil futures slump to largest single-day drop since Sept. 1
http://markets.on.nytimes.com/research/markets/commodities/commodities.asp Oil futures slump to largest single-day drop since Sept. 1 Monday October 12 th , 2015 at 3:22 PM 1 Share Oil futures settled sharply lower Monday as data showed members of the Organization of the Petroleum Exporting Countries continued to pump at a breakneck pace last month, leaving crude to give back some of last week’s sizable gains. On the New York Mercantile Exchange, light, sweet crude futures for November delivery CLX5, -4.71% dropped $2.53, or 5.1%, to end at $47.10 a barrel. November Brent crude LCOX5, -4.94% on London’s ICE Futures exchange fell $2.79, or 5.3%, to finish at $49.86 a barrel. Both contracts saw their largest one-day price and percentage declines since Sept. 1. $47 $48 $49 $50 $46 $51 While crude seemed to find early support from OPEC’s monthly bulletin, which forecast U.S. oil output will drop in 2016 for the first time in eight year