Oil falls below $46 as US warns of worse recession (AP)

Italian ENI CEO Paolo Scaroni, delivers a speech during the 3rd Global Competitiveness Forum in Riyadh, Saudi Arabia, Sunday, Jan. 25, 2009. The head of the Italian oil company Eni SpA says the turbulence in oil prices is  unprecedented and 'extremely bad news' for the industry. Paolo Scaroni told a panel at the Global Competitiveness Forum the time is ripe for the oil industry to look for ways to increase certainty and stability. (AP Photo/Hassan Ammar)AP – Oil prices fell below $46 a barrel Monday in Asia after White House officials warned the U.S. recession will likely worsen in coming months, undermining demand for crude.


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