(MENAFN- Saudi Press Agency) New York Dhu-AlQa'dah 06 1436 August 21 2015 SPA -- U.S. oil prices traded below $40 a barrel for the first time since the 2009 financial crisis ending 2 percent lower on Friday on signs of U.S. oversupply and weak Chinese manufacturing and notching the longest weekly losing streak in almost three decades.
U.S. crude dipped below the $40 threshold following weekly data that showed U.S. energy firms added two oil drilling rigs last week the fifth increase in a row.
U.S. October crude settled 87 cents or 2.1 percent lower at $40.45 a barrel having touched a new 6-1/2-year low of $39.86 a barrel. U.S. crude has fallen 33 percent over eight consecutive weeks of losses the longest such losing streak since 1986.
Brent oil ended $1.16 or 2.5 percent lower at $45.46 a barrel. It hit a low of $45.07 and threatened to break below $45 a barrel for the first time since March 2009.
--SPA
00:00 LOCAL TIME 21:00 GMT
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