Due to China’s economic shock, international oil prices have dipped to the lowest point in 6 1/2 years.

In Monday’s trading on the New York Mercantile Exchange, crude oil for October delivery fell as low as $38.24 per barrel, down $2.21 (5.5 percent) from the previous day.

Oil prices recovered some lost ground Tuesday after a sharp fall sparked by worries about the faltering economy in China, the world’s largest energy consumer.

U.S. benchmark West Texas Intermediate (WTI) for October delivery rose $1.07 to $39.31 a barrel on the New York Mercantile Exchange, after finishing below $40 Monday for the first time in six years.

In London, Brent North Sea crude, the international benchmark, finished at $43.21 a barrel for October, up a modest 52 cents, a day after dropping to its lowest level since March 2009.