LONDON: Brent crude fell to a 5½-year low of less than US$57 a barrel yesterday as a global supply glut outweighed concerns of lost supply from Libya where battling militias have closed ports.

The oil benchmark recovered ground later but was on track for its second weakest month since the global financial crisis of 2008, and traders said the selloff that has halved crude prices in six months showed no sign of coming to an end.

Brent fell US$1.14 a barrel to US$56.74, its lowest since May 2009, before recovering to trade around US$57.70, down 18 cents, by 1440 GMT. United States crude was up 10 cents at US$53.71 after hitting US$52.70 - also its lowest since May 2009. Reuters