Oil Falls to Lowest Price Since 2009

U.S. crude oil fell below $50 per barrel for the first time since April 2009. The two major crude oil benchmark prices, West Texas and Brent Crude, have dropped by more than half since mid-2014, escalating fears that a surplus of global oil supplies will be taking a tough toll on the market. As a result, nationwide gasoline prices are hovering at or below $2 per gallon.