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The massive earthquake that shook Japan on Friday is expected to at least temporarily set back an economy that has faltered lately and is struggling to recover from years of stagnationUltimately, economists say efforts to rebuild homes, businesses and highways in Japan will at least offset any dampening effects and possibly even spark economic growth. The most tangible effect of the disaster on the U.S. was a drop in oil prices. In New York, crude oil fell $1.54 a barrel to settle at $101.16, reversing a recent run-up fueled by turmoil in the Middle East. Japan is the world's third-largest oil importer. Reuters reported that six refineries that account for 31% of Japan's output shut down after the quake and a fire broke out at one of the facilities. Several shutdowns were precautionary measures, but it was unclear when they would reopen. Oil prices fell largely because the shutdowns could limit the country's ability to purchase oil. In addition, economic growth could be crimped in the short-term, says oil analyst Phil Flynn of PFGBest Research.