CNBC | Oil plunges on bloated US supply, dollar CNBC Oil prices plunged on the double whammy of a surging dollar and a new report that raised worries about a U.S. oil glut that could send crude dramatically lower. The drop in oil also slammed the stock market, reeling too from the stronger dollar. The ... Why oil can hover around $50, but not for long Record Oil Glut Seen by IEA Pushing U.S. Storage Limits Why Oil's Recent Drop Indicates Strength, Not Weakness |