For the first time since April, the oil prices fell due to high global supply. The Benchmark Brent crude fell below $70 a barrel. The downfall in the price of the oil by around 18 per cent has made the investors worried about the impact on the economy.
The oil prices had touched four-year high in the month of October. This is the first time after a long gap, the oil prices slipped by around 18 per cent.
US contract was seen in red and the sentiments were bearish as the US light crude fell below $60 a barrel.