Tuesday, December 15, 2015

Oil Is Crashing to its Lowest Price in Over a Decade

Oil prices tumbled 4% on Monday, coming close to their 11-year low, on growing fears that the global oil glut would worsen in the months to come in a pricing war between leading OPEC and non-OPEC producers. Brent crude fell by 4% to below $36.40 a barrel for the first time since December 2008 and U.S. West Texas Intermediate (WTI) sank almost 3% below $34.60 a barrel. Brent traded only 14 cents above the lows last seen during the 2008 financial crisis of $36.20 a barrel...more

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