Crude oil fell sharply on Monday as mounting concerns about the fragile state of the world economy triggered big losses for equities.April Brent on ICE Futures fell $4.14 to close at $42.21 per barrel, nearly wiping out last week's gains. April Nymex crude sank $4.61, or more than 10%, to settle at $40.15 after trading below $40 during the session.
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