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Oil tank cars like those that ruptured in a train derailment in rural West Virginia on Feb. 16, sending a massive fireball into the sky and forcing evacuation of nearby homes, could be rolling through U.S. cities for years to come.

Oil climbed to over $50 a barrel Monday as workers at some of the nation’s refineries began strike action.

Oil declined from a one-week high in London and New York as Iraqi production advanced to a record, compounding a global supply surplus.

Crude oil surged the most in more than 2 1/2 years Jan. 14 after falling to the lowest since 2009.

Oil fell for a third day, extending its drop from the lowest close since 2009, as record supplies from Iraq and Russia bolstered speculation that a global glut that drove crude into a bear market will persist.

Crude oil dropped to the lowest level in more than five years Dec. 18 on concern a supply glut will worsen.

West Texas Intermediate oil dropped below $60 a barrel for the first time since July 2009 as Saudi Arabia questioned the need to cut output, signaling its priority is defending market share. Brent fell to a five-year low.

Two of the nation’s largest oil field service companies, Halliburton Co. and Baker Hughes Inc., agreed to combine operations, a move that company officials said will save an estimated $2 billion a year in expenses.