Oil falls below $50 as US oversupplies

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Source: Bloomberg
Oil experienced a record drop since May 2009 of below $50 per barrel due to speculation that US inventories will rise, increasing global oversupply. Brent futures slid 2.3% for five consecutive days of losses, while crude stockpiles in the US largely expanded, whereas oil's second-largest consumer, China, is expecting slower imports. During last year oil slumped by the largest amount since 2008 financial crisis, losing nearly half of its price, with Brent futures for February declining by $1.18 down to $49.92.
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Wed, 07 Jan 2015 11:23:43 GMT

Euro drops to 9-year low as oil prices goes below $50

The Euro slid to the weakest level in nine years as concerns about global economy and collapsing Brent crude oil prices, which fell below $50 a barrel for the first time since May 2009, drove investors to turn to safe-haven assets. The Euro dropped to $1.1842 amid speculation the European Central Bank will deploy quantitative easing soon.

Wed, 07 Jan 2015 11:08:17 GMT

Euro hits nine-year low before Eurozone inflation report

On Wednesday the Euro declined to a nine-year low versus the US Dollar before the Eurozone inflation data release. EUR/USD hit a low of 1.1851, the weakest since 2006, amid expectation that stimulus measures by the ECB will be set early this year. One of the reasons of Euro's weakness was the US Dollar index, which hit a nine-year high

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