The Globe and Mail | Oil dive deepens to 12-year low; could hit $20 on China woes The Globe and Mail A brutal new year selloff in oil markets quickened on Monday, with prices plunging 6 per cent to new 12-year lows as further ructions in the Chinese stock market threatened to knock crude as low as $20 (U.S.) a barrel. Amid an accelerating tailspin ... US oil settles down $1.75, or 5.28%, at $31.41 a barrel US Oil Prices Flirt With $31 a Barrel Oil Tumbles, Analysts Warn of $20 Price Tag |