SINGAPORE: Oil tumbled to new multi-year lows in Asia on Monday, extending a sharp sell-off last week in response to Organization of Petroleum Exporting Countries (OPEC’s) decision to maintain output despite a supply glut and plunging prices.
US benchmark West Texas Intermediate (WTI) for January delivery dipped $1.65 in afternoon Asian trading to $64.50, its lowest intraday level since July 2009.
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