Brent, U.S. crude plunged to their lowest level since May 2009 - Brent crude settled at US$57.8, while US crude dropped by US$53.61 a barrel.
A rally was seen earlier in the day on news of further damage to Libya's oil infrastructure, but was quickly followed by a fall on fears of global oversupply. Libya is producing 128,000 bpd, down from the 1.6 million it produced prior to Muammar Gaddafi's ouster in 2011.
The number of rigs drilling for oil in the United States dipped in the latest week, data from oil services firm Baker Hughes Inc showed. But the count for U.S. oil rigs remained up from a year ago, indicating production would remain robust.
30-Dec-14 
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