US Oil prices slip to lowest level since 2003 
US-benchmark oil prices on Wednesday fell below $27 for the first time since 2003. The prices hit a low of $26.85 before closing at $27.01. Further, Brent crude oil prices also touched a 13-year low of $27.20. With sanctions on Iran lifted, the International Energy Agency warned that the world could drown in an "oversupply" of oil.