Oil drops close to a six-year low amid concerns over global growth

Source: Investing.com
© Scanpix/AP
On Wednesday oil futures hit a nearly six-year low amid concerns over the worsening situation of the supply glut. Futures for February slid 65 cents to $45.25 per barrel, compared to a day earlier, when futures hit a six-year low of $44.20. Brent crude dropped by almost 60% since summer and global growth is now expected at a lower level than the earlier assessment of 3.4%. US weekly supply data was highly anticipated by the oil traders in order to evaluate the level of oil demand.





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