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Oil prices tumble below US$40 a barrel on dour economic news
: w. n- a7 S6 L0 ~: e2 t4 P5 W6 EMon Dec 22, 4:00 PM1 p4 k: Y$ v0 B7 g/ U
" U; N3 ?' {0 M( FBy Dirk Lammers, The Associated Press2 x9 u: L' b( d: A9 h2 s
! ?6 n& p J: u# Q& b- N2 k& @Oil prices tumbled below US$40 a barrel Monday as reports from manufacturers like Toyota and Caterpillar pointed to a worsening global economic climate and serious deterioration in energy demand.1 N ]) N, I- K, p0 Y) V
+ r2 f$ p2 I; e$ Q. y2 [Light, 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.* A1 M8 m& B: q! |
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