Oil prices have plunged to US$60 per barrel, falling by over 40% since hitting a mid-summer peak. These are levels seen for the first time in five years. Oil on the Nymex sank to US$59.95 a barrel.
Global oversupply driven, in part, by increased production from the U.S. shale boom has largely triggered this fall. Recent news of the supply glut likely to continue into 2015 pulled down prices even further.
12-Dec-14 
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