The Guardian | Oil price falls to lowest since July 2004 The Guardian Oil prices have fallen by more than two thirds since summer 2014 as demand has slowed with the global economy and higher production in the US and elsewhere has increased supplies. Prices revived partly in May but have almost halved since. Crude oil plumbs new post-crisis lows Brent Oil Prices Fall to Levels Not Seen Since 2004 Brent crude oil falls to 2004 low as market rout heads into Christmas |