Quartz | Oil prices just slipped into the third bear market in two years Quartz Oil entered a bear market after the price of WTI crude, the US benchmark, dropped below $40 a barrel late yesterday (Aug.1). Saudi Arabia cut prices to Asia at the weekend, indicating that it's not backing down in its battle with rival Iran, which is ... Oil rises 2 percent but oversupply concerns remain Crude Oil May Rebound to $57 Next Year, Analysts Say Here we go again: Oil plunges back to $40 |