Business Oil slips as more U.S. drilling revives glut concerns Oil prices fell on Monday as news of another weekly increase in U.S. drilling activity had oil forecasters concerned that production cuts from other producing nations may not reduce the global supply glut as much as had been hoped. Global benchmark Brent crude oil prices settled down 29 cents at $55.23 a barrel, while U.S. crude futures settled down 54 cents at $52.63. The number of active U.S. oil rigs rose last week to the highest level since November 2015, according to Baker Hughes data, with drillers encouraged by oil prices above $50 a barrel. Business The 'fear index is surgingand traders say its headed even higher Following a weekend dominated by news of President Donald Trump's executive order restricting travelers from seven Muslim-majority countries, stocks started the week on a distinctly downbeat note. The S&P 500 was on pace for the worst day since October, and the CBOE volatility index, which uses S&P 500 options prices to track the magnitude of the market's expected moves over the next 30 days, experienced its biggest rise since early September. Index options are more frequently used to hedge against downside than to speculate on upside, which explains why the VIX is often used as proxy for the level of investor nervousness.
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