Oil prices slide for fifth trading day

NEW YORK (AP) — Oil prices are sliding as analysts gauge how much the disaster in Japan will affect world energy demand.

Japan, the third-largest oil consumer, was hammered by Friday’s devastating earthquake and tsunami. Some parts of northeastern Japan are still without electricity. Three of five major oil refineries have shut down, and authorities are still trying to stabilize a damaged nuclear plant.

Analysts expect the country’s energy demand will fall in the short-term. But Japan will likely compensate for the shutdown of nuclear power plants by running other generators with oil, boosting crude imports.

Benchmark crude fell 73 cents to $100.43 on the New York Mercantile Exchange. It fell below $100 earlier.

Meanwhile, gasoline jumped in the U.S. for the 27th straight day to a national average of $3.56 per gallon.