NEW YORK (Reuters) - U.S. crude oil futures fell more than $4 on Thursday as concern about falling demand in a slowed economy and rising inventories offset OPEC's big output cut as the January contract approached Friday's expiration.
On the New York Mercantile Exchange at 2:30 p.m. EST, January crude was down $3.42, or 8.54 percent, at $36.64 a barrel, trading from $35.98 -- lowest since $35.52 struck on June 30, 2004 -- to $40.90.
(Reporting by Robert Gibbons)
