LONDON—Oil slid further on Thursday after dropping sharply from more than three-month highs in the previous session as a U.S. government credit downgrade weighed on sentiment, while concerns around supply tightness provided support.
Ratings agency Fitch on Wednesday downgraded the main U.S. credit rating, reflecting an expected fiscal deterioration as well as a high and growing government debt burden. The downgrade hit investor risk appetite, pushing oil and global stock markets lower.
