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U.S. markets recover from steep losses
NEW YORK, Dec. 9 (UPI) -- Crude oil prices dropped sharply Wednesday to under $71 per barrel, as stock markets in Asia and Europe slid lower for the second consecutive day.
The price of light, sweet crude fell after the U.S. Energy Information Administration said stockpiles of gasoline and distillate fuels rose in the week ending Dec. 4.
Crude oil prices shed $1.95 to $70.67 per barrel. Heating oil prices lost 0.0816 cents to $1.9093 per gallon. Reformulated gasoline prices lost 0.0673 cents to $1.8573 per gallon.
Natural gas prices dropped 0.216 cents to $4.898 per million British thermal units.
At the pump, the national average price of unleaded gasoline was $2.633 per gallon Wednesday, down from Tuesday's $2.634, AAA said.
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