Oil prices fell more than 3% today, pulled lower by US data showing the economy of the world's largest energy consumer shrank more than expected in the final three months of 2008.
US crude dropped $1.52 to $43.70 a barrel this evening, after touching a session low of $42.55, reversing a three-day rally.
London Brent crude fell $1.01 to $45.50 a barrel.
The losses came after government data showed US gross domestic product shrank 6.2% in the fourth quarter versus a year earlier, marking the deepest slide since 1982.
Oil fell back today from its three-day bull run, paring around 3% in early trade, but otherwise remaining on course to end the month up 5% from January - its first monthly gain since June.
Earlier in the week OPEC output cuts and a bounce in US demand for gasoline this week pushed oil prices up 13%.
