Oil plumbs new lows below $27 in unrelenting rout | Reuters:
"U.S. oil prices crashed below $27 dollars a barrel on Wednesday for the first time since 2003, caught in a broad slump across world financial markets with traders also fearful that the crude supply glut could last longer.
Oil prices have slid more than 25 percent so far this year, piling more pain on oil drillers and producing nations alike, yet they keep pumping more oil into an oversupplied market.
U.S. crude CLc1 for February delivery, which expires at the end of the day, slid $2.05, or 7.2 percent to $26.41 at 2:05 p.m. EST (1902 GMT)."
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