Mon, May 28, 2012, 4:14 PM EDT - U.S. Markets closed for Memorial Day

Oil prices tumble on European debt concern

Oil falls below $99 a barrel, Greek bailout plan in limbo raises worries about future demand

Associated Press – Fri, Feb 10, 2012 3:29 PM EST

NEW YORK (AP) -- Oil prices fell Friday with a critical bailout plan for Greece's economy in limbo, again raising the specter of bank failures and reduced oil petroleum in Europe. Here's how energy contracts traded.

On the New York Mercantile Exchange:

Benchmark crude fell by $1.17 to finish at $98.67 per barrel.

Gasoline lost 3.79 cents to end at $2.9749 per gallon.

Heating oil fell 2.64 cents to finish at $3.1821 per gallon.

Natural gas was unchanged at $2.477 per 1,000 cubic feet.

On the ICE Futures exchange in London:

Brent crude fell $1.28 to end at $117.31 per barrel.

 

6 comments

  • heybert17
    heybert17  •  3 months ago
    Yeah,Oil prices tumble, that easily explains why gas went up 20 cents yesterday.
  • viet
    viet  •  Vineland, New Jersey  •  3 months ago
    what kind of gasoline lost 3.79 cents to end 2.9749 per gallon. that is not telling the true. how bout gasoline in new jersey is 3.39 per gallon. why is that wall street ???
  • taco mac
    taco mac  •  Jackson, Mississippi  •  3 months ago
    electric cars here we come - however it is 20 years in the future. In 20 years Saudi Arabia can go back to the Stone Age.
    • exp_x
      exp_x 3 months ago
      Electric cars won't replace fossil fuel powered cars. There is no energy to power them. And when oil supplies begin their permanent decline, the economy will be so ruined that no one will have money to buy a car anyway.
  • rocky and adrianne
    rocky and adrianne  •  Richmond Hill, Georgia  •  3 months ago
    where is the price drop at the pump if futures are down!! we are for sure getting hosed here and no one seems to care or know what to do about it!! my god where are our governing officials??
  • Glory to the King Jesus
    Glory to the King Jesus  •  Buffalo, New York  •  3 months ago
    the oil industry better get rid of this commodity before everyone is driving an electric car and there gas goes down to 0.50 cents a gallon if they would get it off the market and price it at 1.75-2.00 dollars every one would keep buying so much a year and they wouldn't have to worry about it anymore. Get out of wall street before they shut you down :)
    • exp_x
      exp_x 3 months ago
      Pipe dream fantasy. Where is the electricity going to come from? There are no alternatives that can replace oil. When fossil fuels are no longer affordable (because of limited supply), people will use less energy. Period. All the running to and fro will end. The economy will collapse to a sustainable level. It's most likely going to be chaotic. All because humans are too stupid not to become dependent on limited resources.
  • john
    john  •  Minneapolis, Minnesota  •  3 months ago
    Heres one for you gas only takes pennys to produce, they are making billions each and every quarter if they only charged .99 gal. at the pump they would still make millions thank the democrats for this. Clinton is the one that made this happen.
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