Another auto dealership is receiving a spit shine.Fort Wayne Nissan-Infiniti, 4909 Lima Road, is in the midst of a $2 million renovation that includes a 7,000-square-foot addition, featuring a new customer lounge with flat-screen TVs,SINGAPORE — Oil prices fell below $81 a barrel Monday in Asia amid investor concerns flagging U.S. crude demand doesn't justify the recent rally. Benchmark crude for April delivery was down 35 cents to $80.90 a barrel at late afternoon Singapore time in electronic trading on the New York Mercantile Exchange. The contract rose 60 cents to settle at $82.09 on Friday.
Oil prices jumped from $69 early last month on expectations an improving U.S. economy would bring crude demand up with it. But oil consumption has lagged, and prices have stalled in the low $80s for the last week.
"U.S. demand for oil is falling," energy consultant Stephen Schork said in a report. "Until we see a decrease in unemployment and an increase in consumer confidence we will remain on guard for a double dip recession."
Investors will be eyeing this week's Federal Reserve meeting for signs of when policymakers may start raising record-low interest rates.
In other Nymex trading in April contracts, heating oil was up 0.3 cent at $2.097 a gallon, and gasoline dropped 0.2 cent to $2.253 a gallon. Natural gas declined 3.2 cents to $4.37 per 1,000 cubic feet.
In London, Brent crude was down 33 cents at $79.06 on the ICE futures exchange.
