MW: Oil futures drop amid falling stocks, economic worries
Oil futures dropped early Tuesday, as falling stocks and concerns about the global economy weighed on investor sentiment. Crude oil for March delivery fell 71 cents, or 2%, to $36.80 a barrel in electronic trading on Globex. "Oil markets are likely to remain vulnerable to further losses, with risk aversion on the rise and as bulls lose hope for a swift recovery in global economies following an array of negative economic data recently," said Nimit Khamar, an analyst at Sucden Financial Research.