Oil falls below $30 a barrel for first time since in 12 years

January 13, 2016 00:47

Crude oil prices lost more than 4 percent on Tuesday, extending a relentless selloff to trade below $30 a barrel for the first time since December 2003 on concerns about fragile Chinese demand and the absence of restraint in global production.

Shaking off early firmness, crude extended a nearly 7 percent drop from Monday.

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