Crude oil prices remained in free fall Monday morning, nearing their lowest since the economic meltdown of 2008-2009.
Analysts say a stronger dollar and global supply glut have sparked a sell-off in energy futures.
The international agreement to fight climate change that was reached in Paris last week also contributed to oil’s decline.
Crude oil for delivery in January tumbled 90 cents, or 2.5%, to $34.72 barrel, having dropped to its lowest since February 2009.
On Wednesday, the U.S. Federal Reserve is widely expected to hike the Fed rates at its last meeting of the year.
The material has been provided by InstaForex Company – www.instaforex.com