Oil prices fell on Wednesday for the third day in a row as traders realized that a recent run-up to $100 may have been overdone.
Oil ended at $91.98 on Wednesday, dropping $3.31, or 3.5 percent. That was its lowest close since Aug. 3. Oil has fallen 7 percent this week.
Several things have been pushing prices down. Analysts said traders are taking profits after oil got above $100 per barrel on Friday for the first time since May. And there have more signs this week that the global economy is slowing down, which tends to push oil prices lower because people and businesses use less energy.