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New York - US Crude Breaks Below $40, Oil Ends Down More Than 3 Percent

Aug 01, 2016 at 07:32 PM

New York - U.S. crude tumbled below $40 per barrel on Monday for the first time since April, as oil prices settled down nearly 4 percent on heightened worries of a crude glut despite peak summer fuel demand. A nearly 15-percent slump in U.S. crude prices in July, the biggest monthly loss in a year, also triggered liquidation as trading began for August. "It's stop-loss technical selling...

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