Oil prices dropped as much as 8% on Thursday as crude continues to take a hit on both the supply and demand side. U.S. West Texas Intermediate crude is now down more than 25% this week, putting it on track for its worst week since December 2008, and its third largest weekly decline on record.
On Thursday WTI fell $2.17, or 6.6%, to trade at $30.81 per barrel. Earlier in the session it traded as low as $30.02. International benchmark Brent crude fell $3.26, or 9.1%, to trade at $32.53 per barrel.
