WTI crude drops below $40 first time since 2009

WTI crude drops below $40 first time since 2009

American benchmark WTI crude briefly slipped below $40 per barrel for the first time since 2009, showing an eighth straight weekly decline , the longest streak in almost 30 years.

During the intraday trading in New York, the benchmark WTI crude price dropped as low as $39.86 per barrel before settling at $40.45 – some 2.1% drop in one day.

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