NEW YORK: Brent crude oil futures settled at its lowest since April on Thursday and US crude fell into bear market territory and ended below $49 a barrel for the first time since late March, as persistent concerns about ample supply and shaky demand offset support from the dollar's weakness.
US crude's US$48.45 a barrel settlement is down 21 percent from the June 10 close at US$61.43 and a 20 percent downturn is considered by many traders to constitute a bear market.
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