Brent crude drops below $70 for first time in 4 yrs, ruble in new historic plunge

Brent crude oil slumped to below $70 on Friday, its lowest level since 2010. The news came after OPEC decided not to cut oil production.

The price of the crude oil dipped 3.7 percent on Friday and fell to $69.94 per barrel, according to auction results. The cost of January futures fell by 4.47 percent, to $66.07 per barrel.

In turn, the ruble hit new lows against the dollar, going down to $50.01 on Friday night at the close of the Moscow Stock Exchange .... http://rt.com/business