（单词翻译:单击）
The global oil markets experienced another blow on Monday, with prices hitting their lowest in five and a half years.
US crude at one point hit below $50 a barrel, while Brent dove under $53. This was related to the latest signs of oversupply1. Russia's oil output is at new highs since the Soviet2 era, and oil exports by Iraq are close to their 35-year peak.
Saudi Arabia's most recent cut to its monthly oil prices for European buyers - which it has done six times now since June - as well as the tumbling euro, have also contributed to the price drop. US crude settled at $50.04 a barrel. The benchmark Brent, on the other hand, closed at $53.11 a barrel. Both numbers were down more than 5 percent.
