Oil Retreats to Bear Market as Global Supply Glut Seen Growing

Updated on
  • Saudi Arabia lowers prices to Asia in fight for market share
  • U.S. oil rig count expands for fifth week to 374: Baker Hughes

Oil in Bear Market: Three Charts That Tell the Story

Oil fell below $40 a barrel in New York for the first time since April, falling into a bear market on concern that the global supply glut will expand.

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