MW: Oil futures fall on economic fears, rising supplies
Oil futures fell Friday, pressured by rising inventories and worries about the severity of the global economic downturn. Crude oil for March delivery dropped $1.06, or 2.4%, to $42.63 a barrel in electronic trading on Globex. "Oil prices this morning tracked equity markets lower amid the deteriorating economic outlook and fears of further demand destruction," said analysts at Sucden Financial Research.
