Stock markets in Oslo and Moscow deep-dive as oil price tumbles

Crude oil marks lowest price in 6 1/2 years. Lukoil is Russia's largest private oil company.

The falling price of oil is also dragging the kroner and rouble down.

The decline in oil price triggers dramatic impacts on Russian and Norwegian economies. The two countries depend more on price per barrel than any other European economies.

Brent crude was trading at just over $44 Monday morning, down to its lowest price since the financial crisis in 2009.

In Oslo, the stock market is all red at the start of the week, down 5,9 percent. One Euro is trading at 9,40 kroner.

In Moscow, the stock market’s RTS index is down 6 percent. One Euro is trading at 76,7 roubles and one dollar is 68,1 roubles. For Russians, one Euro has not been so expensive since December last year.