Brent crude tumbles below $40 in wake of faltering demand outlook

Crude in London tumbled below $40 a barrel for the first time since late June in the wake of faltering demand and weaker equities dampening market sentiment.
 

Brent futures declined more than 6% on Tuesday to the lowest level in nearly three months. A stall in Asia’s recovery, the end of the US summer driving season and increased supply from the OPEC+ alliance signal a bleak short-term outlook for oil prices. Equity markets also weakened, leading crude to break below the key psychological barrier of $40 a barrel.
 

“The lack of fiscal support is starting to spook the markets a