Markets

Brent oil tumbles under $60 for first time since 2009

Published December 16, 2014 Updated December 16, 2014 08:25am

1 min

By Parvez Jabri

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LONDON: The price of Brent oil slumped Tuesday to a fresh five-year low below $60 per barrel, as weak Chinese manufacturing data stoked global demand concerns, with sentiment also plagued by over-supply.

In morning London deals, the price of Brent North Sea crude for delivery in January sank to $59.63, breaching the key level for the first time since mid-2009.

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