Oil slides below $33 to near 12-year low as China turmoil rattles investors | Reuters:
"Oil fell below $33 a barrel on Thursday for the first time since April 2004 as a fall in Chinese shares rattled investors already concerned by near-record production and massive stockpiles of unwanted crude and refined products.
Oil prices have fallen by around 70 percent since mid-2014, hurting oil companies and governments that rely on crude revenue.
China let its yuan currency slip on Thursday, sending regional currencies and stock markets globally tumbling. The offshore yuan fell to its lowest since trading started in 2010.
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