Oil prices moved closer to $30 a barrel on Tuesday as a range of problems pummeled the commodity, including oversupply, China’s weaker economy and a mild start to winter in some regions. Pumping units at an oil plant operated by MND in Dambořice, Czech Republic, on Jan…. Brent, the global benchmark, was down 1.84% to $30.98 a barrel on London’s ICE Futures Europe exchange. West Texas Intermediate was down 2.45% at $30.64 for February deliveries. Oil prices are now trading at 12-year lows. This has led traders to build up short positions as confidence in the Chinese economy has crumbled and the global oil glut continues. “It is hard to pick a bottom [for oil prices] right now because the fundamental is so weak,” said Vyanne Lai, an analyst at National Australia Bank NABZY 1.08 % “Erratic actions by the Chinese government to manipulate the yuan is sending jitters […]