Oil price falls on renewed concerns about Europe

Heightened concerns about Europe push down oil prices

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The price of oil dropped Monday as concerns grew about Europe's debt-ridden economies.

On the New York Mercantile Exchange:

Benchmark crude fell by $3.69, or 4 percent, to finish the day at $88.14 per barrel in New York.

Gasoline lost 6.01 cents to end at $2.8829 per gallon.

Heating oil fell by 10.54 cents to finish at $2.8189 per gallon.

Natural gas rose 3.6 cents to end at $3.1170 per 1,000 cubic feet.

On the ICE Futures exchange in London:

Brent crude lost $3.57, or 3.3 percent, to finish at $103.26 per barrel in London.

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