U.S. Oil Drops 46% for Year

Posted December 31, 2014 at 5:46pm

The Wall St. Journal reports that “oil futures closed the year at more-than five-year lows, as plentiful supplies and tepid demand continued to send prices plunging.”  

“Brent crude oil and gasoline futures both posted 48% losses in 2014, making them the worst performers among the 22 commodity markets tracked by the Bloomberg Commodity Index.”  

“U.S. oil futures dropped 46% in the year.”  

“Oil, gasoline and diesel markets all posted their largest annual losses since the global recession in 2008.”