Updated on
Summary
Oil prices fell below $72 a barrel Monday in Asia as high crude stockpiles and weak demand tempered enthusiasm about recent signs of improvement in the world's largest economy. Benchmark crude for October delivery was down 40 cents at $71.64 a barrel. The contract gave up 43 cents Friday to settle at $72.04 a barrel. The recession has sapped American fuel consumption, and U.S. oil stockpiles are 14 percent larger than last year even as recent data suggests the economy is clawing out of recession.
