posted at 03:50
Author Name: Mike Bird
Oil Prices Are Plunging Even Lower
Brent crude is down another 1.38%, to just $69.2 per barrel. During trading, the price fell as low as $68, highlighting the amazing drop in prices: Brent crude was trading for more than $100 per barrel as recently as the end of August. WTI, the other major oil price benchmark, is down 0.63% to just $65.73. The price has now passed below lows recorded in 2012, 2011 and 2010, and it's back to a level last seen in mid-2009, five and a half years ago. There's no end in sight to the drop after the OPEC cartel of oil-producing nationa failed to agree a production cut last week.

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