Energy advisor sees "historic" low oil prices fall further

Even though European benchmark crude Brent's price has hit the lowest level seen in 18 years, its value could slide even further, according to Jason Bordoff, former Obama Administration energy advisor. "[It] is not done yet," he says.

Photo: Hussein Malla/AP/Ritzau Scanpix

For parties that spent the weekend hoping that oil's rock bottom had already been hit, Monday morning presents a dreary start to the new week.

One barrel of Brent is currently down to USD 23.34 – the lowest level since 2002 – and US West Texas Intermediate oil has also followed this downward path and presently sells for USD 20.41.

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