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U.S. markets recover from steep losses
NEW YORK, May 20 (UPI) -- Crude oil prices dropped to near $68 per barrel on the New York Mercantile Exchange Thursday as equities plummeted.
Oil prices have recently dropped 21 percent off the year's high of more than $86 per barrel, with equity markets in retreat since May 4 on growing concerns over the strength of the euro, the currency shared by 16 countries in Europe.
In New York, June delivery crude oil prices dropped $1.59 from a prior settlement to $68.28 per barrel. Heating oil prices for June delivery slid 0.0574 cents to $1.8878 per gallon. Reformulated gasoline blendstock prices lost 0.0709 cents to $1.9443 per gallon. Henry Hub natural gas prices shed 0.047 cents to $4.111 per million British thermal units.
At the pump, the national average price for unleaded regular gasoline dropped to $2.84 per gallon from Wednesday's $2.852, AAA said.
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