Sharp drop of oil .. and "Brent" less than $ 60 a barrel for the first time since July 2009

Brent crude was down more than a dollar and fell below $ 60 a barrel for the first time since July 2009 in early European trading on Tuesday, with the slowdown in industrial activity in China.

Oil fell in futures contracts for about half since June, amid increased production and weak demand while the Organization of Petroleum Exporting Countries reluctant OPEC cuts production to support prices.

The industrial sector showed a contraction in China's data for the first time in seven months in December, reinforcing data indicate more than doubled in the second largest economy in the world oil prices to more damage.

The inn Brent for January delivery, to $ 59.75 a barrel, down US $ 1.31 a barrel, US crude fell to $ 54.85 and lost of $ 1.06.

Analysts say the weakness of emerging markets and falling currencies enhances the downward trend in oil prices, and in Russia's central bank raised the basic interest rate of 6.5 point Mioahely 17 percent yesterday in a bid to halt the erosion of the ruble.

In India, the Reserve Bank intervention to support the rupee in recent sessions and the Indonesian rupiah fell to its lowest level in 16 years against the dollar.