New Delhi: There has been a huge fall in the prices of crude oil from the lockdown in Europe due to fears of recession in the international economy. In the international market, the price of crude oil has come down to a five-month low. In the global market, in the past week, the price of benchmark crude oil Brent crude has fallen by about five dollars per barrel.

Indian futures market has also fallen by about Rs 400 per barrel in the last one week due to the fall in the global market. The crude futures on the domestic futures market Multi Commodity Exchange (MCX) were trading at Rs 2,559 per barrel with a decrease of Rs 83, or 3.14 per cent, in the November futures contract of crude oil. Whereas before the price had fallen to Rs 2,544 per barrel, which is the lowest level since May 29, when the price of oil fell to Rs 2,450 per barrel.

Brent crude's January delivery contract on the international futures market Intercontinental Exchange (ICE) was trading at $ 36.78 a barrel, down 3.06 per cent over the previous session, compared to the earlier break up of $ 35.76 a barrel, which was nearly five. This is the lowest level of the month.

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