Oil is dumping again.

Just before 2:00 pm ET on Tuesday, West Texas Intermediate crude oil touched a low of $47.65 a barrel, a nearly than 5% drop on Tuesday.

Earlier Tuesday, WTI broke $49 for the first time since April 2009, just a day after cracking the $50 mark for the first time since that same month in 2009.

Brent crude, the international benchmark, was also breaking lower, cracking $51 to also make its own multi-year low.

Over the last six months, the price of Brent and WTI crude is now down more than 50%.

Here's the chart of oil's latest drop:

The price of crude oil is down by about $10 in the past two weeks, following December's decline.

Here's the past two weeks of WTI:

And Tuesday's chart for Brent, the international benchmark for oil markets:

"Falls in oil prices are going beyond many people's expectations. This will put pressure on the earning of US energy firms," Hirokazu Kabeya, senior strategist at Daiwa Securities, told Reuters.



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