Tokyo — Oil prices struggled for traction on Wednesday after sinking on worries about weakening world demand and oversupply, while global shares sagged with slowing growth concerns overshadowing potential positives such as progress in the Brexit saga. US crude futures dived 7% the previous day, suffering their biggest one-day loss in more than three years. The contracts last stood at $55.38 a barrel for a loss of 0.55%, following a descent to a one-year low of $54.75 overnight. Brent crude was down 0.2% at $65.33 a barrel after tanking 6.8% on Tuesday and set an eight-month trough of $64.61. Brent had soared to a four-year high of $86.74 early in October as the market braced for US sanctions on Iran, but prices have sunk nearly 25% since then. Concerns about global growth pushed MSCI’s broadest index of Asia-Pacific shares outside Japan down 0.4%. Hong Kong’s Hang Seng dropped 0.4% and the Shanghai Composite index retreated 0.3%. Australian stocks fell 1.3%, South Korea’s Kopsi lost...
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