Brent crude oil fell below $50 a barrel for the first time since May 2009 on Wednesday, hammered by a growing supply glut and weak global demand. The pace of global business growth eased to its weakest rate in over a year at the end of 2014, according to JPMorgan’s Global All-Industry Output Index, produced with Markit. Weak economic activity is adding to fears of deflation, with euro zone inflation data due later on Wednesday expected to show the first annual fall in consumer prices since 2009. Benchmark Brent crude futures LCOc1 were down 85 cents at $50.25 by 4.16 a.m. ET, having fallen as low as $49.66, a level last seen in May 2009. U.S. futures CLc1 were down 40 cents to $47.53 a barrel, having fallen to $46.83, their lowest since April 2009. Oil markets are down for a fifth straight session and off […]