Mon, 05 Jan 2015 09:48:07 GMT
Oil continues to drop from 5.5-year low as glut seen persisting
Oil dropped for a third day, resuming its fall from the lowest since 2009 as supplies from Russia and Iraq are strengthening speculation that the oversupply, which guided crude into a decline, may preserve this year. Black gold futures slid 2.1% as Iraq plans to boost exports, while Russia's output has already reached a new record. Brent fell 48% last