Steep declines in US equities led the oil complex lower Wednesday. Receive daily email alerts, subscriber notes & personalize your experience. Register Now ICE December Brent settled $1.91 lower at $83.09/b and NYMEX November WTI slid $1.79 day on day to $73.17/b. The prospect of weaker equities and lower-than-expected demand growth overshadowed the impact of Hurricane Michael’s landfall in Florida. “Michael is a devastating storm, but any demand destruction will be short-lived,” Price Futures Group senior market analyst Phil Flynn said. “Once they get to rebuilding, that demand will come roaring back.” “But the downturn in stocks is different,” Flynn added. “We are seeing some panicking as the market is getting beat up and oil is down.” On Wednesday the NASDAQ Composite Index closed more than 4% below opening levels and the S&P 500 Index was down 3.29% intraday. “Considering how far down the market is […]