Crude oil prices fell Monday morning amid demand concerns and the imminent US interest rate hike.

WTI Light sweet crude oil for January was down 60 cents at $39.32 a barrel, its lowest in five years.

Prices have failed to rise despite further economic stimulus from the European Central Bank announced Friday.

t Louis Federal Reserve Bank President James Bullard is scheduled to speak on the economic outlook in Muncie, Indiana at 11:30 am ET.

The material has been provided by InstaForex Company – www.instaforex.com