The price of oil plunged to another historic low on Wednesday morning as global geopolitical tensions grow, the volatility of Chinese markets continues, and the global glut of oil gets even bigger.

As of 10:30 a.m GMT (5:30 a.m ET) the price of Brent crude, the European benchmark, slipped to exactly $35 per barrel — its lowest level in more than 11 years. The price is down nearly 4% on the day, and it’s still falling.

Brent dropped to its first 11-year low, of $35.54 in early trade, but recovered a little, and at 9:45 a.m. GMT (4:45 a.m. ET) read more >>>

Source : BusinessInsider.Com