Oil prices fall to lowest level in weeks

Energy prices are tumbling to the lowest levels this month as world markets react to a growing crisis in Japan.

Dangerous levels of radiation have been reported leaking from a crippled nuclear plant in the northeastern part of Japan, and analysts say the country's economy could slow for months while it works to recover from the disaster. More than 10,000 people are thought to have died in Friday's 9.0-magnitude earthquake and tsunami.

Benchmark West Texas Intermediate crude dropped US$3.77, almost four per cent, to US$97.42 per barrel. Brent crude, heating oil, natural gas and gasolene futures also dropped between two and six per cent. Retail gasolene also fell slightly for the first time in nearly a month to a national average of US$3.556 per gallon.

- AP