Brent oil falls under $40 for first time since 2009

London (AFP) - Brent crude prices sank under $40 on Tuesday for the first time in almost seven years, rocked by OPEC's recent decision to maintain oil output levels despite a chronic supply glut.

European benchmark oil contract Brent North Sea oil for delivery in January tumbled to $39.81 a barrel -- the lowest point since February 2009.

Sentiment was also soured by weak demand growth, the strong dollar and a broader collapse in other commodity markets.

New York's West Texas Intermediate for January hit a similar low at $36.64 on Tuesday, having already breached $40 last week .... http://finance.yahoo.com