According to Reuters, oil prices are down between 5-and-6 percent, bringing the price per barrel down to lows last seen in October, 2017.
West Texas Intermediate crude dropped about 6-percent, losing $3.35 during morning trading, which brought the price of a barrel to $51.28.
But West Texas Intermediate dropped as far as $50.53 per barrel, which was it weakest price since late 2017.
The international benchmark was down about 5-percent, shedding $3.13 off the price of a barrel.