Getting your player ready...
NEW YORK — Oil prices slid to a new low for the year Thursday because of growing doubts that the $789 billion stimulus package will reinvigorate the economy and demand for energy.
Crude supplies in the U.S. reached an 82-week high last week, according to the Department of Energy, showing just how far demand has fallen.
Retail gas prices, meanwhile, reached a high for 2009 on Thursday and appeared headed back to $2 a gallon as refiners cut production.
Light, sweet crude for March delivery tumbled $1.96, more than 5 percent, to settle at $33.98 a barrel on the New York Mercantile Exchange.
