Crude oil prices have now fallen by more than fifty per cent since June last year, when the commodity was being sold for $110 per barrel. Brent crude, the global oil benchmark, fell 1.2 per cent to $48.61 a barrel on London's ICE Futures exchange on Monday.
On the New York Mercantile Exchange, West Texas Intermediate futures were trading down 1.7 per cent at $41.75 a barrel.
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