Oil Plunges To A 23-Month Low

Oil won’t stop going lower.

It was a terrible day for stocks on Thursday, with the Dow falling 335 points and the S&P 500 and Nasdaq each falling 2%, but the price of oil is also getting crushed.

In extended trade on Thursday, the price of oil fell to below $US85 a barrel for the first time since November 2012.

It’s been just an absolutely brutal few months for oil, which has fallen from well over $US105 a barrel back in June, to nearly two-year lows today.

Here’s a chart of oil’s slide today.

And the slide over the last year-plus.

Meanwhile, the ‘OIH’ ETF that houses a basket of oil services companies, fell 4.2% in trade on Thursday.

Business Insider Emails & Alerts

Site highlights each day to your inbox.

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