Last Monday, the oil prices started to drop again. The black gold prices fall despite minor growth for the previous two days as the signs of increase in oil supply appear.
The ICE Futures Europe prices on October Brent crude oil futures shrank by 1.6% to 49.24 US dollars per barrel. The NYMEX WTI crude oil futures on October fell down by 1.3% to 44.6 US dollars per barrel. The Shanghai Composite Index lost 2.5% after an extended growth on Thursday and Friday.
The Chinese authorities give controversial information about the readiness to support the stock market, thus leaving everyone disoriented. On Monday, the executives of one of the largest Chinese brokers were taken in on suspicion of inside trading.
On demand of Chinese authorities, the brokers are forced to increase contributions to funds aimed to support equity markets and boost the repurchase of their own securities.
Last weekend, the China Securities Regulatory Commission initiated a meeting with representatives of 50 brokerage firms. The meeting was called to present a demand to transfer 100 billion yuan, which is 15.7 billion US dollars in order to support the market.
