The Rupee's trajectory will also remain a big focus in today's session after plunging 84 paise to a new record low of 75.10 against the dollar on Thursday
The decline in the US market in the last 10 days is the largest ever for the contract since it was introduced in 1983
West Texas Intermediate (WTI) crude futures fell $1.75, or 6.1 per cent, to settle at $26.95 a barrel.
Morgan Stanley expects global growth to fall to 0.9 per cent in such a scenario, while Goldman Sachs predicts weakening of growth to 1.25 per cent
Brent crude futures for May delivery fell 56 cents to $29.49 a barrel, or 1.9 percent, at 13:35 EST (1135 GMT)
Brent crude slipped 1.5% to $29.57 a barrel at 1316 GMT, having earlier touched $29.44, the lowest since January 2016
The Reserve Bank of India's decision to leave interest rates unchanged for now will also impact sentiment
Brent crude was down $3.58, or 10.6%, to $30.27 a barrel by 1231 GMT. The front-month price had risen $1 earlier in the session
According to a Business Standard report, the Securities and Exchange Board of India is working on a plan to arrest the deep market sell-off and reduce volatility
For the week, Brent is set to fall 28 per cent, the biggest weekly decline since the week of Jan. 18, 1991
Petrol in Delhi now costs Rs 70.29 per litre and diesel Rs 63.01 a litre
Brent crude futures were up $3.36, nearly 10%, to $37.72 a barrel by 1041 GMT, after hitting a session high of $37.75 a barrel
The rush for safe investments had sent yields on US Treasuries to record lows on Monday
Petrol in Delhi now costs Rs 70.29 a litre and diesel Rs 63.01 a litre; in Chennai, petrol costs Rs 73.02 and diesel Rs 66.48 a litre; in Mumbai, petrol costs Rs 75.99 and diesel Rs 65.97 a litre
Govt should seize the opportunity to improve its finances
The fall in oil prices comes at a time when the global economy is already reeling under the impact of coronavirus, which has dented demand across sectors and economies
Indices see biggest 1-day fall ever in absolute terms, here are the eight major things about the selloff across global markets
Oil fell by the most since 1991 on Monday after Saudi Arabia started a price war with Russia
The Saudi move was no shot across the bows aimed at Russia's reluctance to extend and boost a deal to curb production.
A meeting of main producers was expected to agree to deeper cuts to counter the impact of the new coronavirus -- but Moscow refused to tighten supply