Oil futures plunged Monday, with the U.S. benchmark trading below the $46-a-barrel threshold for the first time in nearly six years after Goldman Sachs cut its crude outlook, predicting prices will remain low for a lengthy period.West Texas Intermediate crude oil for February delivery CLG5, -1.58% fell $2.29, or 4.7%, to close at $46.07 a barrel after trading as low as $45.90. The close was the lowest since April 2009. The move followed a 0.9% loss during Friday’s regular session on the New York Mercantile Exchange. WTI futures are down more than 57% from a June 2014 high of $107.26 a barrel.
Meanwhile, Brent North Sea crude oil for February LCOG5, -5.81% the global benchmark, lost $2.68, or 5.4%, to $47.43 a barrel, its lowest finish since March 2009.
No comments:
Post a Comment