Crude oil prices continued to fall on Wednesday as China allowed its currency to drop for a second day, triggering concerns over its economic health just as oil production hit multi-year highs. China’s yuan hit a four-year low on Wednesday, slipping further a day after authorities devalued it to support its struggling economy. Analysts noted that China’s overall currency fall was relatively low by historical standards in foreign exchange markets, but were quick to add that China’s case was different. “It is China – the largest consumer of most commodities and a large producer of many – and it’s the yuan, which rarely moves much against the U.S.-dollar and when it does, it traditionally appreciates not depreciates,” Australian bank Macquarie said in a note to clients. Tuesday’s fall in the yuan against the […]