Oil’s recent big price drops are some of the largest ever. Stephanie Yang and Christopher Alessi report:
- Oil prices notched their longest losing streak on record Monday, as comments from President Trump negated expectations that the global oil cartel and its allies will cut production.
- Light, sweet crude for December delivery fell 0.4% to $59.93 a barrel on the New York Mercantile Exchange, marking the 11th consecutive session of losses, the longest in data going back to 1983.
- Brent crude, the global benchmark, also closed lower, down 0.1% to $70.12 a barrel.
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