Brent crude hits low of $36.05 a barrel with industry experts saying price could drop to $20 before supply adjusts to demandThe price of oil has fallen to its lowest level in 11 years as commodity markets responded to signs that the global glut of oil will deepen in 2016.
Dealers said the cost of crude was on course in December to register its biggest monthly drop since the collapse of the US investment bank Lehman Brothers in October 2008.
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Source: theguardian.com