By MarketWatch
NEW YORK (MarketWatch) — Crude-oil futures fell more than 4% on Thursday morning as investors bid energy prices lower following the Federal Reserve decision to extend debt maturities as unlikely to boost the economy and with it, demand for energy.
Nymex-traded crude for November delivery CL1X -4.25% fell $3.84 a barrel, or 4.5%, to $82.10.
Crude futures followed the action in equity markets, which sold off around the globe on Thursday.
On Wednesday, the Federal Open Market Committee said in its statement on monetary policy that the U.S. economy faces “significant downside risks,” spooking financial markets.
In the previous session, oil settled lower immediately after the conclusion of the two-day meeting of Fed policy makers. See earlier Futures Movers column.
