Oil below $100 on economy fears

Crude oil prices have fallen below $100 a barrel on concerns about demand for oil after weak US economic data.

The BBC

The main contract for US light crude had fallen 98 cents to $99.93 a barrel in US trading, as it continued to pull back from last week's $111 record high.
US consumer confidence fell to a five-year low and house prices suffered their biggest fall in 21 years.
Analysts said fears of a severe economic downturn in the US could keep oil below $100 in the short term.
"The question is how bad the US economy is going to be, " said Tony Nunan, a risk management executive at Tokyo-based Mitsubishi ... Read the Entire Article