The Traderszone Network

Published in TZ Latest News 29 December, 2014 by The TZ Newswire Staff

Oil At Five-Year Low; Supply Glut Seen Continuing

Crude oil slid to a five-year low amid speculation that a global supply glut will continue, while the Standard & Poor’s 500 Index extended its record high. Treasuries rose amid concern early elections in Greece risk severing the nation’s bailout agreement. Oil for February delivery sank 2.1% to $53.61 a barrel in New York, the lowest settlement since May 1, 2009, and Brent crude slid 2.6% to $57.88 in London.

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