Crude Crashes Through The USD50/Barrel Mark

Brent crude crashed through the $50/barrel mark Thursday as equities slumped. January Brent broke the $50 barrier, down $3 at $48.20, its lowest price since May 2005.

NYMEX December crude hit $49.91/barrel in afternoon trade.

Gold was the only commodity to post a gain as investors flee to a safe haven. Other metals, softs, grains were all sharply lower.