Oil prices were falling on Friday (March 13), and they’re falling again Monday morning. After staging something of a rally, barrels of the black stuff are once again having a hard time finding bottom. US benchmark West Texas Intermediate is setting new six-year-lows. Not much has changed over the weekend: there’s still a looming US oil glut despite a slowdown in drilling activity. But the market knows best.
The fall looks even more dramatic if you look back to 2009: