Continental Resources, Inc. (CLR)

[56Chevy]

Oil closes at a five-year low below $60

AP/December 11, 2014, 5:38 PM

The price of oil fell below $60 for the first time since July 2009 on Thursday and ended trading in New York at $59.95.

Benchmark U.S. crude oil dropped 99 cents, or 1.6 percent. Oil has fallen steadily for nearly six months, and is down 44 percent since reaching a high for the year of $107.26 in late June.

"We don't see a price bottom," wrote energy analyst Jim Ritterbusch in a note to investors. He expects oil to fall further, toward $55 a barrel, in the short term.

The drop is a result of rising global oil production, especially in the U.S., at a time when demand has weakened because of slowing economies in Asia and Europe.

[....]

http://www.cbsnews.com/news/oil-slides-below-60-for-first-time-since-2009/

Marker:
Continental Resource (CLR)
$33.24 down -0.29 (-0.86%)
Volume: 4,483,733

FD- I do not own shares of CLR at this time.