18.08.2015 - U.S. Oil Price Hits New Six-Year Low
U. S. oil prices fell Monday to a fresh six-year low on concerns that the glut of crude oil is set to grow. Light, sweet crude for September delivery fell 63 cents, or 1.5%, to $41.87 a barrel on the New York Mercantile Exchange, the lowest settlement since March 3, 2009. Brent, the global benchmark, fell 45 cents, or 0.9%, to $48.74 a barrel on ICE Futures Europe. U.S. oil prices have slid 11% so far this month as concerns mounted that persistently high crude-oil production from the U.S. and the Organization of the Petroleum Exporting Countries would keep the global market oversupplied through 2015...............................................Full Article: Source
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