Commodity Online
LONDON : Brent crude oil prices slumped below $51 a barrel here in early trade, its lowest level since May 2005.

The falls came as traders anticipate a protracted slump in energy demand. Brent North Sea crude fell $1.24 to $50.48 a barrel in London this morning.

Light, sweet crude on the New York Mercantile Exchange was down 92 cents to $52.70a barrel in late Asian trading.

Oil prices have plunged almost two-thirds since striking record highs of above $147 in July as a global economic slowdown dents world energy demand