Oil markets continued their downwards spiral on Monday with U.S. crude, also known as West Texas Intermediate (WTI), trading below $65 a barrel - its weakest level since 2009.
Prices have been in free fall after the Organization of the Petroleum Exporting Countries (OPEC) decided on Thursday to maintain production, inspiring uber-bearish calls on crude. Jonathan Barratt, chief investment officer at Ayers Alliance Securities, told CNBC on Monday he sees prices falling as low as $40 a barrel.
Read MoreCan oil fall all the way to $40?
Both WTI and Brent have posted five consecutive months of price declines, the longest losing streak since 2008, according to Reuters data.
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