Oil falls below $68 on US recession fears

NEW YORK

In morning trading, light, sweet crude for December delivery fell $4.03 to $68.15 on the New York Mercantile Exchange. Earlier, it sank as low as $67.50 a barrel, the lowest level for a front-month contract since June 2007.

The energy markets have also been weighed down by the weak stock market, as investors grow more pessimistic about how long it will take the economy to recover from the current global financial turmoil.