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Oil prices tumble below US$40 a barrel on dour economic news
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6 c% c @$ y, |By Dirk Lammers, The Associated Press( }! ^! v, Y3 n$ @3 }$ ~+ z
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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.5 ^7 H9 {7 Z( [# V! T; u
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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.; U2 h+ t; a/ m6 L1 C+ b2 V5 L, W N+ J
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