December 21, 2015

Oil at lowest level since July 2004

AAA put the average U.S. gas price at $1.998 per gallon on Monday, while fuel-price tracking service calculated the national average at $1.995 a gallon. That’s the lowest price by either measure since March 25, 2009.

Brent crude oil extended a slide on Monday to its lowest level in more than 11 years while investors dumped Spanish bonds and stocks after an inconclusive general election set the scene for potentially weeks of political stalemate. Brent hit a low of $36.05 a barrel. This is the lowest price since July 2004.

The euro was steady at US$1.0865. The USdollar rose 0.1 percent against the yen to 121.32 yen.

China's yuan was fixed higher for the first time in 11 sessions. Beijing will keep monetary and fiscal policies accommodative in 2016 to help support the slowing economy.

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