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2014-12-06 16:20:00

OIL PRICES DOWN

OIL PRICES DOWN

Oil prices slid to the lowest point in more than five years Friday as worries about a global glut of oil continued to weigh on the market.

Light, sweet crude oil for January delivery skidded 97 cents, or 1.5%, to $65.84 a barrel on the New York Mercantile Exchange, the lowest settlement since July 29, 2009. Prices fell 0.5% this week and have dropped nine of the past 10 weeks.

Brent, the global benchmark, fell 57 cents, or 0.8%, to $69.07 a barrel on ICE Futures Europe, the lowest level since Oct. 7, 2009. Brent lost 1.5% on the week.

Oil futures…

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Tags: OIL, PRICES, BARREL, BRENT, SAUDI, U.S.,

Chronicle:

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2019, March, 22, 10:15:00

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2019, March, 22, 10:10:00

BRITAIN NEED INVESTMENT $265 BLN

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2019, March, 22, 10:05:00

U.S. FEDERAL FUNDS RATE 2.25-2.5%

U.S. FRB - Consistent with its statutory mandate, the Committee seeks to foster maximum employment and price stability. In support of these goals, the Committee decided to maintain the target range for the federal funds rate at 2-1/4 to 2-1/2 percent.

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