News Wrap

IN News Wrap: Oil prices fall to new lows; Goldman Sachs and WoodMackenzie on $US40 a barrel oil; US ‘energy banking boom' is over; and Australian renewable energy investment nosedives.

New lows

Brent crude for February delivery fell 5.3% overnight to close at $47.43 a barrel - the first sub $50/bbl closing price for the Brent index since April 2009.