London (AFP) – Oil prices tumbled towards six-year lows Tuesday on global oversupply and after OPEC kingpin Saudi Arabia said the era of $100 crude was over, analysts said. Brent crude for February delivery fell as low as $46.40 per barrel — the lowest since March 2009 — and US benchmark West Texas Intermediate (WTI) for the same month hit a similar trough at $44.20 a barrel.”Today a Saudi official reiterated the belief … that the days of $100 oil are over,” said analyst Daniel Sugarman at traders ETX Capital.”It is unclear whether this is truly what is felt in …read more
Source: Business Insider
