Brent crude price drops below USD 78 per barrel first time since start of October

The price of January futures for Brent crude dropped below $78 per barrel in the early hours of Monday, reaching a record low for the first time since October 1.

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As of 02:02 Moscow time on Monday (23:02 GMT on Sunday), the price of January futures for Brent was dropping 0.69 percent, to $77.93 per barrel.

The price of January futures for WTI crude was going down 0.56 percent in the early hours of Monday, to $75.19 per barrel.