Oil resumes losing ways, slides nearly 5% as growth outlook dims

Crude-oil futures settled sharply lower Tuesday as investors weighed a batch of downbeat views on global economic growth, including news that China’s economy expanded at its slowest pace in decades.

Crude futures for delivery in February CLG5, -5.26%  fell $2.30, or 4.7%, to end at $46.39 a barrel.

March Brent crude LCOH5, +0.77%  also succumbed to sellers, falling 85 cents, or 1.7%, to settle at $47.99 a barrel.