Experts warn that UK oil industry is under pressure but some say falling prices could benefit country’s economy
Global crude oil prices slumped further on Thursday, as traders placed fresh bets that the market would resume a six-month sell-off on worries about a supply glut.
Benchmark Brent and US crude tumbled $2 a barrel each in late trading. With Brent back below the level of $60 a barrel and US crude under $55, traders braced for more selling in a market that has lost about half its value since June.