Oil Prices Down to Record Low in Six Years.
Pulbished on:
Singapore, 13 January 2015(Lana) Oil prices hit their lowest on
Tuesday with Brent West Texas crudes reaching the lowest in six years
driven by supply glut and Chinese data showing record imports by a
major international oil consumer.
By 0655 GMT, Brent February futures declined more than 3% to
45.84 a barrel, the lowest since March 2009.
The losses came as reports indicated a increase in Chinese oil
imports to exceed 7 million barrels a day for the first time, as the
world's second biggest oil consumer took advantage of the low price
to build up its strategic reserves.
=Lana=