facebook
twitter
rss
account
search
search
 

Stocks undermine crude oil prices

May 14, 2012 at 9:34 PM   |   Comments

NEW YORK, May 14 (UPI) -- Crude oil prices headed lower Monday, aiming for $94 per barrel on the New York Mercantile Exchange after stocks were hit hard in Europe.

Late last week, Spain ordered its banks to raise $39 billion to protect the financial system against a downturn. The move is the latest reminder that Europe's debt crisis is far from over.

West Texas Intermediate crude oil shed $2.07 to reach $94.06 per barrel. Natural gas lost 1.1 cents to hit $2.42 per million British thermal units.

Home heating oil dipped 1.56 cents to $2.9139 per gallon.

Gasoline lost 1.36 cents to reach $2.9454 a gallon.

At the pump, the national average price of unleaded gasoline dropped 0.1 cents from Sunday's $3.728 per gallon to $3.727, AAA said.

© 2012 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Recommended UPI Stories
Featured UPI Collection
trending
Notable deaths of 2014 [PHOTOS]

Notable deaths of 2014 [PHOTOS]

Most Popular
1
Deloitte: App downloads dwindle, 1 in 3 users disinterested
2
AESA radar integrated into new F-16V
3
Iran wants to develop mini-LNG plants
4
Twitter to remove pictures of deceased on family's request
5
Iraq worried by terrorist ties to oil
Trending News
Video
x
Feedback