Oil prices had lost around 5% on Monday alone, extending the...

Oil prices had lost around 5% on Monday alone, extending the selloff that has gripped oil markets since mid-2014, as sell-side analysts slashed price forecasts and warned of a prolonged glut in global oil markets that will extend well into 2015

http://www.marketwatch.com/story/oil-extends-selloff-wti-crude-drops-below-45-a-barrel-2015-01-13