"Oil Prices Slide Again, and the Bottom Is Not Yet in Sight"

"The continuing collapse in commodity prices pushed oil futures still lower Monday, and analysts predicted that the slide was far from over.

Oil prices fell to their lowest level in 12 years, with futures of West Texas intermediate crude for February delivery settling at $31.41 a barrel, down 5.3 percent. Oil futures, which lost 30 percent last year, have declined every day of 2016. Brent oil, the main international benchmark, lost 6.5 percent and closed at $31.55 a barrel.

Last year a broad reassessment occurred in commodities, as the global economy slowed and demand from emerging markets like China, India and Brazil waned. The slump in oil prices picked up momentum last week on renewed concerns about the health of China’s economy, which led to a rout in global markets."

Jad Mouawad reports for the New York Times January 11, 2016.

SEE ALSO:

"Oil Plunge Sparks Bankruptcy Concerns" (Wall Street Journal)

"Russian Shares and Ruble Fall as Oil Prices Continue to Tumble" (New York Times)

"Worst Oil Bust In 45 Years Brings US Crude Below $31 A Barrel" (FuelFix/Hearst)