Brent crude falls below $50 for first time since 2009

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The precipitous decline in the oil price has continued this morning, with a further slump in Brent crude seeing it trade below $50 for the first time in more than five years.

Brent fell just below the $50 mark this morning, its lowest level since May 2009, a day after the US WTI measure similarly dropped below $50 a barrel. Today’s fall in Brent means it has lost some 40%...

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