Oil falls over $1 to below $40

PERTH (Reuters) - Oil fell more than $1 to below $40 a barrel on Monday, extending the previous session's decline, on persistent demand worries after a big increase in U.S. unemployment renewed fears about energy demand.

U.S. light crude for February delivery was off 95 cents to $39.88 by 0642 GMT (1:42 a.m. EST), having earlier fallen by as much as $1.07. London Brent crude fell 32 cents to $44.10.

(Reporting by Fayen Wong)