LONDON, Dec 3: Oil prices tumbled on Wednesday under $45, hitting their lowest point since February 2005, as weak US economic data sparked renewed concern about slowing global energy demand.
On London’s InterContinental Exchange, Brent North Sea crude for delivery in January slumped as low as $44.87 a barrel.
New York light sweet crude for January fell to $46.26 -- also its lowest level since February 2005 -- on the New York Mercantile Exchange. Oil prices have now plunged by about 70pc from above $147 per barrel.—AFP
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