Australian shares are poised to open lower, trade data pending for China, Australia

News Snapshot:

Pinned post – 7.20AM Australian shares are poised to fall as Wall Street struggles for direction after oil prices plunged amid heightening concerns of a supply glut. ASX futures are tilting 32 points lower, which would leave the benchmark close to 7177 shortly after the open of trading. Energy stocks like Woodside and Santos will be in focus after US oil dropped 4.1 per cent in New York, falling below $US70 a barrel. Brent slid more than 3.5 per cent, falling below $US75 a barrel. Later today, the Australian Bureau of Statistics will release the nation’s latest international trade balance....