New York( CNN Business) Crude high oil prices are in free-fall as anxieties of a supply glut mount.

The losses in the petroleum world have been staggering as frets deepened about excess supply. Crude is down 12 straight days, the longest losing streak since futures trading began in March 1983.

“Bearish sentiment has seized control of the petroleum marketplaces, ” said Clay Seigle, managing director of petroleum at Genscape.