(MENAFN- Kuwait News Agency (KUNA)) The US crude oil fell below USD 50 per barrel Monday but rebounded to settle later at USD 50.67.
According to the crude oil futures quotes displayed at New York Mercantile Exchange (NYMEX), the US crude oil price fell to USD 49.95, down by five percent in comparison to Friday closing price, then recovered to USD 50.67.
As for the Brent Crude Oil Financial Future also hit a fresh low as USD 52.67 per barrel before rebounding to USD 53.56.
The first eight months of 2014 were much like 2013, as energy commodities remained in a relatively stable range, the US Energy Information Adminstration (EIA) said today.
During the last four months of 2014, it added, crude oil and petroleum product prices fell dramatically, and ended the year with the larger price drops of all major commodities.
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