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.

NOW WATCH: Money & Markets videos

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.