Oil prices drop as dollar gains Thursday

Published: Aug. 14, 2008 at 5:34 PM

NEW YORK, Aug. 14 (UPI) -- Crude oil prices dropped Thursday on the New York Mercantile Exchange as the dollar gained against the euro.

The euro fell as far as $1.4777 in midday trading, a six-month low.

Investors are also concerned slumping economies will result in "rampant amount of demand destruction in the market," Stephen Schork, editor of the Schork Report markets newsletter told The Wall Street Journal.

Crude oil fell $1.68 to $114.74 per barrel. Heating oil prices fell 0.0011 cents to $3.103 per gallon. Reformulated blendstock gasoline prices fell 0.0389 cents to $2.9041 per gallon. Natural gas prices fell 0.045 cents to $8.06 per million British thermal units.

The national average retail price of unleaded regular gasoline fell 0.009 cents to $3.778 per gallon, the AAA Daily Fuel Gauge Report said.

© 2008 United Press International, Inc. All Rights Reserved.
Order reprints



Additional News Stories
Riggleman introduced as Nationals skipper (9 min)
NHL: Philadelphia 5, Ottawa 1 (16 min)
Kim leads in Ochoa Invitational (37 min)
COL BKB: Ohio State 72, James Madison 44 (42 min)
Rose leads season's final PGA Tour event (43 min)
Warhol painting sells for $43.7M
Co-worker allegedly attacked over perfume
fark
Verizon has found a way to charge you for accidental keystrokes
Coming to a hipster douche near you: 1890s fashion. 'Cause nothing says "manly" like knee socks,...
Tennessee man found asleep in a ditch with a loaded rifle and a bottle of moonshine
If there are aliens on other worlds, did Jesus die for their sins, too? After all, every Gelgamek...
Murder suspect tells jury he has the cure for global warming, knows how to win in Afghanistan, and...
...and when they covered the Jews' cars in sticky-notes I said nothing, because I was not a Jew