COMMODITIES-Oil leads market rout as China sends investors fleeing

* Commodities pulled down by tumbling Asian equities * Oil, coal, copper at 2009 financial crisis levels * Brent crude slides more than $2/barrel, nearly 5 pct (Adds quotes, details; updates prices) By Eric Onstad and Henning Gloystein LONDON/SINGAPORE, Aug 24 (Reuters) – Commodity markets lurched lower on Monday after Chinese equities resumed their slide, fuelling worries of a hard landing in the world’s biggest consumer of raw materials. Crude oil tumbled to its weakest levels in 6-1/2 years while industrial metals prices also hit multi-year lows amid a broad sell-off of risky assets. Investors took flight after the Chinese stock market posted its biggest one-day loss since the height of the global financial crisis in 2007, plunging more than 8 percent. The 19-commodity Thomson Reuters/Core Commodity CRB Index has shed more than 16 percent so far this year. Oil led the downward charge as Brent crude futures fell more than $2 a barrel to their lowest since March 2009. “Today’s falls are not about oil market fundamentals. It’s all about China,” Carsten Fritsch, senior oil analyst at Commerzbank in Frankfurt, told Reuters Global Oil Forum. “The fear is of a hard landing and that things get out of the … continue reading

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