"Oil Prices Slump to 11-Year Lows in Asia and Europe"

"LONDON — Oil prices hit 11-year lows in Asia and Europe on Monday, as a glut of crude on world markets and the recent global climate accord continue to depress fossil-fuel prices.

Brent crude oil, the international benchmark, settled at $36.51 a barrel on Monday in Europe.

Analysts say there is little to restrain continued price declines in the near term. Prices are down about 15 percent so far in December, after an OPEC meeting failed to produce measures to restrain record-high production. That meeting was quickly followed by the United Nations climate accord in Paris, which aims to reduce the world’s reliance on oil and other carbon-emitting fuels."

Stanley Reed reports for the New York Times December 21, 2015.

SEE ALSO:

"Barnett Shale Gas Estimate Doubled" (Flow Control)

"National Gas Prices Dip Below $2 for First Time Since 2009" (The Hill)

"Natural-Gas Prices Drop to Lowest Level Since 1999" (Wall Street Journal)

"Next Stop for U.S. Natural Gas Is 20-Year Low Amid Warm Weather" (Bloomberg)

"Natural Gas Surges 8%, Getting Boost From Colder Weather Forecasts" (Wall Street Journal)

"Wind Power Continues Steady Growth Across The U.S." (NPR)