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2015-12-15 20:00:00

OIL PRICES DOWN

OIL PRICES DOWN

Oil prices dipped on Tuesday, with Brent set to extend its losing streak to an eighth day, as investors remain concerned about a global glut and mild winter demand that sent prices close to 11-year lows during the previous session.

Brent LCOc1, the global benchmark, was at $37.74 at 0440 GMT, down 18 cents from its last settlement after rising slightly earlier on Tuesday.

The contract on Monday bottomed out at $36.33 a barrel, only a few cents above the $36.20 low last seen during the 2008 financial crisis. Falling below that level would take Brent to prices not seen since the middle of 2004.

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Tags: OIL, PRICES

Chronicle:

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