Opec cut its forecast for global oil demand growth this year as a worsening economic outlook curbs consumption in developed economies.
The Organization of the Petroleum Exporting Countries, in a monthly report on Tuesday, also said the gro
ICE sugar tumbled almost 4 per cent on Monday, as most commodity markets were lower on fears of a prolonged global economic slowdown, after ratings agency Standard & Poor's cut its US rating late on Friday to AA-plus from AAA.
France has faith in the ability of the US to get out of this "difficult period" and it is too early to say if a G7 meeting will be brought forward, Finance Minister Francois Baroin told French iTele on Saturday.
Reacting to the downgrading
Europe's biggest bank HSBC Holdings said business will remain challenging for much of next year and it may not keep its US credit card arm if the problems facing the business intensify.
HSBC said "strong revenue trends" at its investment b