US Crude Oil Holds Near 2009 Lows as Global Glut Persists

Singapore: U.S. crude prices remained near 2009 lows in early Asian trading on Friday as oil output in the Middle East continued to rise despite an existing global glut. U.S. crude futures were at $36.67 per barrel at 0029 GMT, down 9 cents from their last settlement, and only slightly above 2009 lows of $36.38 reached on Thursday. Prices have lost more than 13 percent since the beginning of the month. The rout is a result of a hug...