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U.S. markets recover from steep losses
NEW YORK, April 27 (UPI) -- Crude oil prices fell sharply on the New York Mercantile Exchange, dropping to less than $82 per barrel, as equities fell on word Greek debt was downgraded.
Standard & Poor's downgraded Greek bond to junk status, perhaps jeopardizing Greece's ability to tap into international rescue loans set up to help it deal with its mounting debt.
The Dow Jones industrial average lost 1.9 percent, 213.04 points, to 10,991.99.
Crude oil prices for June delivery lost $2.38 Tuesday morning to $81.82 per barrel. Heating oil prices for June lost 0.0183 cents in New York to $2.2454 per gallon. Reformulated gasoline blendstock prices for June lost 0.0281 cents, $2.3172 per gallon. Henry Hub natural gas prices for June slid 0.051 cents to $4.30 per million British thermal units.
At the pump, the national average price for unleaded gasoline was $2.858 per gallon Tuesday, up from Monday's $2.854, AAA said.
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