Crude Oil Extended Decline as Oversupply Worries Persist

Crude oil prices extended weakness for a 5th consecutive day with the Brent contract closing below US$40/bbl for the first time since August 2004. Concerns over oversupply lingers as OPEC's failure to agree on production cut last Friday suggested supply would be too ample to be taken up by demand. Although US crude inventory dropped last week, rising of gasoline and distillate stockpiles soured sentiment.

from Oil N' Gold Focus http://www.oilngold.com/ong-focus/insights/crude-oil-extended-decline-as-oversupply-worries-persist-2015121131934/