The price of Brent Crude oil has fallen below 50 dollar a barrel for the first time since May 2009. It fell more than a dollar to 49.92 dollar a barrel in early trading today before edging back above the 50 dollar mark. Slowing global growth and increased supply of oil and gas have pushed prices sharply lower in recent weeks. The price of oil traded in the United States, known as West Texas Intermediate crude, has already breached the 50 dollar threshold.
News On AIR | January 7, 2015 2:31 PM
Brent Crude oil drops below $50 per barrel; Lowest since May 2009