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Crude oil collapses to a 7-year low

Myles Udland   

Crude oil collapses to a 7-year low
Stock Market1 min read

Crude oil will not stop falling.

On Friday, the price of West Texas Intermediate crude oil, the US benchmark price, fell to as low as $35.92 a barrel, the lowest price in over seven years as the commodity continues to get hammered.

Since last year the price of crude is down about 40% and since hitting a peak of around $110 in June 2014, WTI is off nearly 70%.

This latest collapse in oil prices comes on a day when stocks were getting crushed as markets continue to remain skittish ahead of an expected rate hike from the Federal Reserve next Wednesday.

Here's the chart.

Screen Shot 2015 12 11 at 9.51.13 AM

Investing.com

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