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Oil prices tumble below US$40 a barrel on dour economic news! Z9 G( g% k3 [5 [2 R
Mon Dec 22, 4:00 PM
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By Dirk Lammers, The Associated Press
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; [8 f- T1 n9 \- h( }1 fOil prices tumbled below US$40 a barrel Monday as reports from manufacturers like Toyota and Caterpillar pointed to a worsening global economic climate and serious deterioration in energy demand.
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4 b" ~- t) ~4 f: SLight, sweet crude for February delivery fell $2.45, or nearly six per cent, to settle at $39.91 a barrel on the New York Mercantile Exchange. Crude prices have tumbled 70 per cent since peaking above $147 in July.5 N8 i) L3 N0 W% R- n8 [2 @4 ^! ~
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