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Lagging Demand Puts Crude Below $40
By Mark Williams
Columbus, Ohio -- Oil prices fell below $40 per barrel Friday for the first time this year as the government reported the nation's worst annual job losses since World War II.
People are traveling less, manufacturers are slashing production and there are job cuts across almost every sector of the economy, leading to a severe drop-off in energy use.
And in another bit of bad news, the average national retail price for a gasoline rose again overnight. ...
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