Crude Oil Collapses To New Lows

We have new lows in crude oil.

On Thursday, West Texas Intermediate crude oil prices crashed to below $US44 a barrel.

Prices were down almost 4% on Wednesday so Thursday’s drop represents another drop of just about 1%, though this marks yet another milestone for the the commodity amid its recent collapse.

WTI prices haven’t been below $US44 since February 2009.

So, still no clear bottom for oil.

Here is Thursday’s quick drop.

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