Markets
Brent oil drops under $70 for first time since April
LONDON: Brent crude oil sank Friday under $70 per barrel before a weekend meeting of major oil producing nations in
LONDON: Brent crude oil sank Friday under $70 per barrel before a weekend meeting of major oil producing nations in Abu Dhabi.
In London morning deals, Brent North Sea crude for delivery in January fell as low as $69.69 per barrel, a slide of 96 cents on the day, on surging US energy stockpiles. It comes as OPEC and non-cartel members meet this weekend to discuss a possible cut in crude ouput amid slumping prices.
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