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Oil Prices Now at 6-Year Low
U.S. and global benchmarks for crude oil prices have both dropped to their lowest level since early 2009.
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U.S. and global benchmarks for crude oil prices have both dropped to their lowest level since early 2009.
West Texas Intermediate crude fell to $47.36 per barrel on Monday. Brent crude dropped to $45.90.
Some analysts expect prices to hover around $40 per barrel through the first half of 2015 compared with $110 last June. Traders say prices aren't likely to rise significantly until U.S. shale companies or the Organization of the Petroleum Exporting Countries cut production. Both groups say they have no plan to do so.
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