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BRENT CRUDE OIL TUMBLES BELOW $50

Mike BirdJan 7, 2015, 13:32 IST

Oil prices will just not stop falling. Brent crude is down again today, to the lowest level since May 2009. It's just dropped below $50 for the first time in six years.

That's down by more than half since this time last year, when the price was well over $100. Here's how it looks today:

Investing.com, Business Insider

That follows West Texas Intermediate crude oil, the other benchmark price, which dropped below $50 two days ago. WTI is currently sitting below $48 for the first time in six years too.

Here's Brent again in some historical context. If the price keeps tumbling below about $45 per barrel it'll break lower than the 2008-9 period, towards levels last seen in 2006:

Investing.com