Crude oil falls under $50 a barrel, sensex crashes

New York, Jan 6: The global oil prices were down 6% on Monday, which is the lowest since 2009. Meanwhile, US crude tumbled below $50 a barrel. The benchmark Brent crashed under $53 a barrel with reports showing the Russian oil output registering post-Soviet era highs and Iraqi oil exports peaking at 35-year highs. Meanwhile, major crude exporter Saudi Arabia disclosed that it made heavy cuts to its monthly oil prices for buyers from Europe. In Mumbai, the S&P BSE benchmark sensex crashed by up to 466 points to 27,376.67 early Tuesday following steep fall in US bourses as oil prices tumble and sharp fall in Asian markets.