By JERUSALEM POST STAFF
Oil prices have fallen more than $10 a barrel as worries that a US bailout plan won't win legislative approval increase fears of a prolonged economic downturn.
Monday's steep decline came as House lawmakers were voting on the $700 billion rescue plan. Analysts say if the plan fails to win approval and the economy weakens further, consumers and businesses around the globe would likely cut back on energy use even more.
Light, sweet crude for November delivery briefly dropped $10.01 to the $96.88 level on the New York Mercantile Exchange. Prices quickly pared some losses, rising to $98.22 a barrel.
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