International oil prices plunged below 44 dollars a barrel Wednesday, dropping for the fourth consecutive day as supply fears receded.

U.S. light crude on the New York Mercantile Exchange ended down 1.74 dollars to settle at 43.47 dollars a barrel, its lowest closing level since Aug. 4. The price fell to as low as 43.22 dollars at one point before Wednesday's market close.

London Brent closed at $40.68 a barrel, down 1.64 dollars.
Prices are now down nearly six dollars from last week's record highs.