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Oil prices tumble below US$40 a barrel on dour economic news v1 ]' }, [3 m
Mon Dec 22, 4:00 PM0 j7 A- A7 s8 T
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By Dirk Lammers, The Associated Press
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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." R4 _) r, N; ?7 }
. Y6 v6 Q6 F1 GLight, 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.
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