Home Latest News Crude oil prices in US sank below 40 dollars a barrel

Crude oil prices in US sank below 40 dollars a barrel

Crude oil prices in US sank below 40 dollars a barrel for first time since 2009 on worries about China’s weakening economy. US benchmark West Texas Intermediate for October delivery dropped by 2.21 dollars to 38.24 dollars a barrel on the New York Mercantile Exchange.

Brent North Sea crude for October, the international benchmark, plummeted by 2.80 dollars to 42.69 dollars a barrel in London, its lowest level since March 2009.

Energy experts say, petroleum markets are extending last week’s decline along with global equity markets yesterday as worries over slowing Chinese economic growth intensified.

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