Oil is trading below $50 a barrel for the first time since 2009 as a surge in domestic production has created a supply glut.
Oil is trading below $50 a barrel for the first time since 2009 as a surge in domestic production has created a supply glut. Charles Rex Arbogast AP
Oil is trading below $50 a barrel for the first time since 2009 as a surge in domestic production has created a supply glut. Charles Rex Arbogast AP

Oil continues its fall, trades below $48 a barrel

January 06, 2015 10:50 AM