Brent Crude Slides to Lowest Level Since 2004, Hounded By Supply

Brent crude prices fell to their lowest in more than 11 years. Oil production is running close to record highs and, with fresh barrels poised to enter the market from the likes of Iran, the United States and Libya, the price of crude is set for its largest monthly percentage decline in seven years. US West Texas Intermediate futures dropped 33 cents to $34.40 a barrel, their lowest since 2009. "Star Wars: The Force Awakens" shattered box office records with an estimated $517 million in worldwide ticket sales through Sunday, a staggering debut that re-established the celebrated space saga as a global phenomenon under Walt Disney (DIS). The first "Star Wars" film in a decade recorded the biggest domestic opening in Hollywood's history, collecting $238 million over the weekend in the United States and Canada. Swedish mobile telecom gear maker Ericsson announced it had signed a patent license deal with Apple Inc (AAPL), ending a year-long dispute. The two will also partner on tech projects.