The price of oil fell below $ 40 a barrel.

The price of oil fell below 40 dollars at the auction on 6 February at the New York commodity exchange (NYMEX). Cost of barrel of oil fell by 1.66 dollars to 39.51 dollars.
Cost of barrel of oil brand Brent fell by 1.44 dollars, and came close to 45 dollars (45.02 dollars).
The decline in oil prices is likely to be due to the negative macroeconomic data from the U.S.. Thus, according to the published report of February 6, the Ministry of Labor, the unemployment rate in January rose from 7,2 to 7,6 percent, reaching a 17-year maximum.
Remember, in mid-2008 the price of oil on world markets rose to a record 147 dollars a barrel. However, because of the worsening economic crisis by the end of the year the cost of barrel of oil collapsed to a minimum of five to 33 dollars.