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Oil prices tumble below US$40 a barrel on dour economic news; b5 p7 A/ e' \; [& a
Mon Dec 22, 4:00 PM
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By Dirk Lammers, The Associated Press6 w# \4 `& |8 `
8 h2 D9 @ B# u2 r( Q) Q! MOil 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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1 ~1 Q8 }/ u* I/ ?2 pLight, 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 C* G7 O5 R. e
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