MarketWatch | 5 reasons oil traded below $40 a barrel MarketWatch It's been a rough summer for oil bulls who were counting on a rebound from the March lows to carry crude back toward $80 a barrel. Instead, oil futures turned south with a vengeance in July, sending the U.S. benchmark CLV5, -2.49% to fresh 6-1/2-year lows. Oil sinks below $40 for 1st time since 2009 Sliding Oil Price Could See '£1 Petrol' Return Oil drops below $40 a barrel for 1st time since 2009 |