Oil relapsed into a bear market in New York as resilient U.S. output, rising OPEC supply and threats to Chinese demand keep a global glut in place.
West Texas Intermediate futures dropped 1.5 percent Thursday to close at $48.45 a barrel. The grade has lost 21 percent in the past six weeks, meeting the common definition of a bear market. The slide in prices has cut the value of the crude futures market in half since 2013, exchange data shows.
Brazil Energy Insight 
Leave a comment