BLBG: Oil futures fall as Japan's economy enters recession
By Polya Lesova
NEW YORK (MarketWatch) -- Oil futures edged lower early Monday, as data showed that the Japanese economy has fallen into recession, heightening worries that a global economic slowdown will reduce energy demand. December crude futures fell 46 cents to $56.57 a barrel in electronic trading on Globex. Japan's economy shrank in the third quarter, marking its second straight quarterly contraction and sending the nation into its first recession since 2001. "So more and more economies are falling into recession, which highlights the severity of the global recession we face," said analysts at Sucden Research in a note.
