The Traderszone Network

Published in TZ Latest News 19 January, 2016 by The TZ Newswire Staff

Oil prices fall further on glut worries; U.S. crude slumps below $28

Crude futures slumped again in early Asian trade on Wednesday, with U.S. oil falling to its lowest since September 2003 below $28 a barrel on worries over a global supply glut. U.S. crude futures (CLc1) were trading down 46 cents at $28.00 a barrel at 0136 GMT (2036 EDT), after dropping to $27.92 earlier in the session – a new low since September 2003. “Oil prices are at a level where OPEC countries are all struggling.