Oil tumbles 10% as economy struggles

OIL plummeted to under $US37 a barrel last night as further evidence of slowing demand continues to trump OPEC's efforts to prop up prices.

Oil tumbles 10% as economy struggles Oil tumbles 10% as economy struggles Oil tumbles 10% as economy struggles Oil tumbles 10% as economy struggles Oil tumbles 10% as economy struggles

New York's Western Texas Intermediate dropped $US3.41 to close at $36.76, levels last seen in June 2004.

Singapore's Tapis dropped marginally from $47.19 to $45.08.

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