CNBC | Oil pares losses after hitting nearly 7-year low CNBC Oil prices resumed their slide on Tuesday, with U.S. crude falling below $37 per barrel and Brent breaking below $40 for the first time since early 2009, amid fears the world was running out of capacity to store crude as a global glut intensifies. The ... Commodity crunch: Brent crude oil plunges through $40 – live updates Oil price hits fresh post 2009 lows as glut grows Oil benchmark falls below $40 a barrel |