Oil back in bear country

OIL has again fallen into bear market territory, sliding below $US40/barrel, causing a sharp intake of breath from oil producers who remain aghast at the resilience of US unconventional drillers and the sheer-bloody mindedness of the Saudis in the pursuit of market share.

Oil back in bear country Oil back in bear country Oil back in bear country Oil back in bear country Oil back in bear country

Overnight West Texas Intermediate declined by 1.4% to settle at $39.51 a barrel, its lowest price since April 7 and its second day closing below $40/bbl in a row.

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