Oil closes below $50 a barrel for first time in a year
Crude settled below $50 a barrel in New York for the first time in more than a year. A jump in inventories, falling equities and the anticipation of another Fed rate hike this week all putting downward pressure on prices.
Brent dips below $60 for first time since October 2017
The global oil price slump pushed Brent crude below $60 a barrel in London for the first time in more than a year amid concerns over a potential supply glut.