Oil prices on Monday skidded to their biggest single-day declines in more than three months, as gyrations in Chinese stocks and the prospect of more crude from the U.S. and Iran revived worries about the global supply glut. China’s stock markets have plunged in recent weeks, which sparked worries among investors about oil demand in the world’s second-largest consumer. Iranian officials also have signaled they want to export even more crude than traders had expected if diplomats can hammer out a final deal on Iran’s nuclear program in the coming days. These elements have taken on major importance as investors try to sort out whether the global oil market has rebalanced from a historic collapse. Prices fell nearly 60% after rapidly growing production from the U.S. shale boom overwhelmed the market. They rebounded by a third and stabilized throughout the spring as some investors bet that […]