Oil prices fall below $42 a barrel
Oil prices fell below $42 a barrel Monday as reports from manufacturers like Toyota and Caterpillar pointed to a worsening global economic climate and serious deterioration in energy demand.
Oil fell below $64 a barrel on Friday, to new 16-month lows, as gloom about a global economic downturn took the steam out of an OPEC agreement to cut output by 1.5 million barrels a day.