The price of Brent crude oil futures on the London ICE Futures Exchange has plummeted by 2.15 percent - to $32.83 per barrel by 8 a.m. Moscow time. Bloomberg reported earlier that the price slumped to $32.64 per barrel. Brent crude oil fell to its lowest since 2004 on Friday.
The price of WTI oil with delivery in February has fallen by 1.9 percent - to $32.53 per barrel on the New York Mercantile Exchange (NYMEX) by that time. Its price dropped to $32.33 during the trading session.
According to analysts, investors expect further price reduction. Monday is also featured by a cut in prices of goods manufactured in China, which completes the picture of weakening Chinese economy.
Copper has gone down by 1.5 percent to $4,416 per ton in Shanghai on Monday hitting the lowest level in last six years. Nickel has fallen by 2.7 percent to $8,330 per ton.
At the same time, gold spot quotation rose by 0.4 percent - up to $1,108.65 per troy ounce, reaching its nearly two-month high.