Brent futures fell below $29, further decline expected

On Thursday, U.S. and Brent crude futures slumped to new 12-year lows, taking this year's losses to more than 20 percent, the worst two-week decline since the 2008 financial crisis, Reuters reports. Brent futures for March delivery fell $1.94 to $28.94 a

Oil prices dropped to their lowest in 11 years

Brent crude prices have dropped by nearly 19 percent this month, their steepest fall since the collapse of the failed U.S. bank Lehman Brothers in October 2008, Reuters reports. The U.S. crude futures dropped 31 cents to $34.42 a barrel, their lowest