: :inin Kyiv (EET)

Oil prices sink further in Asian trade


Oil suffered fresh losses in Asia Wednesday, sinking to new multi-year lows as dealers watch Russia’s ruble crisis and await the latest US crude supply report, analysts said.US benchmark West Texas Intermediate for January delivery sank $1.16 in afternoon trade to $54.77 while Brent crude for February fell 71 cents to $59.30 on the contract’s first day of trading.Brent for January finished down $1.20 at $59.86 in London, after slipping below the psychological $60 for the first time since July 2009.Oil investors are closely watching the situation in crude producer Russia after the ruble on Tuesday crashed to new record …read more

Source: Egypt Independent

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