World crude oil prices plummeted on Wednesday
World crude oil prices plunged on Wednesday for the sixth straight day to below $58 per barrel as U.S. energy stockpiles grew.
New York's light sweet crude for delivery in March, lost $1.92 to $57.65 per barrel, the lowest close for front-month oil futures since Dec. 19.
In London, the price of Brent North Sea crude fell $1.37 to $58.15 per barrel.
U.S. crude oil inventories rose last week by 4.9 million barrels to 325.6 million barrels, or 11 percent higher than a year ago, the U.S. Department of Energy said in its latest weekly report of energy stockpiles Wednesday.