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U.S. markets recover from steep losses
NEW YORK, May 17 (UPI) -- Crude oil prices fell to less than $71 per barrel on the New York Mercantile Exchange Monday with the euro close to a four-year low against the U.S. dollar.
The euro rose Monday, lifting from Friday's $1.2384 to $1.2396. But the weak euro is a tangible symptom of concerns over sovereign debt in Europe that has undercut market stability.
In New York, June delivery crude oil slipped from a prior settlement to $70.70, off 91 cents. Heating oil prices for June delivery lost 0.0406 cents to $2.02 per gallon. Reformulated gasoline blendstock prices fell 0.0628 cents to $2.068 per gallon. Henry Hub natural gas added 0.066 cents to $4.378 per million British thermal units.
At the pump, the national average price for unleaded gasoline dropped to $2.867 per gallon from Sunday's $2.872, AAA said.
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