GasBuddy News Article

The Associated Press -- NEW YORK — Oil prices tumbled to near $79 a barrel Monday, dragged down by a stronger dollar and increasing investor concerns about energy demand.

Energy prices fell across the board, with benchmark crude contracts for April delivery sliding $1.65 to $79.59 a barrel on the New York Mercantile Exchange. Earlier, crude dipped as low as $79.16. It's been nearly two weeks since prices dropped below $80.

MF Global analyst Mike Fitzpatrick said, "A great deal of skepticism is creeping into the market about the sustainability of a market recovery," which has fueled concerns that consumers will keep their cars parked and watch their energy use closely.

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Submitted Mar 15, 2010 By: sphere68

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