New York – Oil Prices Hit New Five Year Low In Tumble After Two-day Break

New York – Oil prices slumped again on Friday after two days of relative stability, hitting 5-3/4 year lows in search of a bottom to the market’s six-month-long rout.

Benchmark Brent crude fell more than $2 to $48.90 a barrel, its lowest since April 2009.

U.S. crude was down $1.43 at $47.36 a barrel, after sliding to $47.16, also a low since April 2009.