• The Norwegian Krone consolidated near a 3-1/2 week low hit in the prior session as oil slumped to less than $16 a barrel, hitting its lowest since mid-1999.
   
• International benchmark Brent crude was trading 0.6 percent lower at $19.64 per barrel by 1040 GMT, having hit a low of $16.01 earlier, its lowest since June 1999.
   
• The decline in oil prices is expected to continue with supply looking likely to outstrip demand for months to come.
   
• USD/NOK trades 0.2 percent up at 10.6509, having touched a high of 10.6893 on Tuesday, its highest March 27. 
   
• Immediate resistance is located at 10.7000, and close above could take it till 10.7287.
   
• On the downside, support is around 10.5319, break below could take it till 10.4955.