Oil closed at the lowest level since November, erasing the gains that followed OPEC’s deal to cut output, as U.S. crude supplies are forecast to climb.

Shares fall in Europe and Asia after Wall Street suffered its worst day this year amid concerns that President Trump will not be able to deliver on policy pledgesWall Street opens lower FTSE 100 falls 1% as negative sentiment spreadsPound steadies above $1.24

As the Wall Street Journal attacks the president for ‘not respecting the truth’, traders drop risky assets in rush for safe havens

U.S. stocks rose from session lows to end little changed as investors assessed the fallout from a failed health-care vote that has raised questions on Trump administration’s ability to push its pro-growth agenda through Congress. Treasuries rose and the dollar slipped.

Brent oil dropped to the lowest in almost four months as surging U.S. crude inventories dim optimism that OPEC and its partners will curb output enough to rebalance the market.

Analysts are zeroing in on the House of Representatives vote on the American Health Care Act as a linchpin for President Donald Trump’s ability to push through pro-economic growth policies -- and the market’s ability to cling to a faltering reflation trade.