Oil slumps to five-year low as OPEC decision spurs forecast cuts
Oil is trading in a bear market amid signs that U.S. output is expanding even after the decision by OPEC, which is responsible for about 40 percent of global supplies.
View ArticleIran moves closer to restoring oil exports on nuclear accord
Minutes after the deal was announced, Brent crude, the global benchmark, fell as much as 5.4 percent.
View ArticleIran oil boost on hold to 2016 as nuclear inspectors go to work
OPEC’s fourth-largest member won’t achieve a crude-export boost of more than 500,000 barrels a day, or about 50 percent, until next year as Iran’s compliance with curbs on its nuclear program is...
View ArticleBrent crude drops below $40 for first time in almost seven years
Brent crude fell 2.1 percent to $39.88 a barrel at 1:45 p.m. London time Tuesday, the lowest since Feb. 20, 2009.
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