CNBC | Oil prices slide 5% as hopes for output cut fade CNBC Oil fell sharply for the second straight day on Tuesday as hopes of a deal to curb one of the worst supply gluts in history continue to fade and concerns about weak demand amid a mild winter deepen the rout. The oil markets erased most of last week's ... MarketsWTI back below $30 as oil rout resumes Oil sinks for second day on fading output deal hopes, weather Russia is now China's biggest oil partner — and it's a huge problem for Saudi Arabia |