As of 1.10 p.m. Moscow time (10:10 GMT), the price for WTI May futures was falling by 25.62 percent to $13.59 for a barrel, which is the lowest level since March 1999.
At the same time, the price for Brent oil futures for delivery in May is falling by 3.85 percent to $27 for a barrel, and the price for WTI futures for delivery in June is decreasing by 8.67 percent to $22.86 for a barrel.