Oil Prices Sink as Doha Talks Break Down

Crude prices dropped on Monday as the world's biggest oil producers failed to come to an agreement to freeze production during a key meeting in Doha on Sunday.

Author:: Scott Gamm
Publish date:: Apr 18, 2016 7:29 AM EDT

Crude prices dropped on Monday as the world's biggest oil producers failed to come to an agreement to freeze production during a key meeting in Doha on Sunday. Saudi Arabia wasn't willing to cap production unless Iran participated. Meanwhile, more trouble for Brazil's president Dilma Rousseff, as lawmakers voted to impeach the embattled politician. The Senate still has to weigh in, but experts are skeptical the president will survive that vote. Plus, PepsiCo (PEP) - Get Report reported first quarter earnings of $0.89 a share, beating estimates of $0.81. Revenue matched expectations. Investors also await earnings from International Business Machines (IBM) - Get Report and Netflix (NFLX) - Get Report , which are released after the markets close. TheStreet's Scott Gamm reports from the Nasdaq.