Oil prices plunged 30% in early trading Sunday night as OPEC’s failure to strike a deal with its allies regarding production cuts sparked fears of a price war as Saudi Arabia slashed its oil prices and reportedly gets set to ramp up production. International benchmark Brent crude futures plummeted 30% to $32.05 per barrel. U.S. West Texas Intermediate crude dropped 27% to $30.00 per barrel, its lowest level since Feb. 22, 2016. “This has turned into a scorched Earth approach by Saudi Arabia, in particular, to deal with the problem of chronic over production,” Again Capital’s John Kilduff said. “The Saudis are the ... (full story)