Crude was trading below $30 a barrel as worries of a worsening glut weighed on investors. Related posts: Saudi Oil Minister Rules Out Production Cut Chinese Eager to Buy More Russian Crude Oil Oil Prices Decline More Than 5 Percent as Stockpiles Increase Saudi Arabia and Iran’s Crude Oil Price War Post navigation Switzerland Smi closed at 8,115.00, down -2.29% US retail sales contracted in December, came in at -0.1 per cent