Oil prices slide as concerns about global economy, oversupply weigh

Oil prices fell on Thursday, retreating from an 8 percent rally in the previous session as the oil market focused on signs of faltering global economic growth and record production of crude. Brent crude futures dropped 4.24 percent, or $2.31, to settle at $52.16 a barrel. U.S. West Texas Intermediate (WTI) crude futures fell $1.61 to settle at $44.61 a barrel, down 3.48 percent.