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.
|Additional Business News Stories|
ERBIL, Iraq, June 19 (UPI) --Iraq's Kurds have consolidated their growing energy sector with Chevron Corp. securing a third exploration block in the semiautonomous northern region that increasingly operates as a de facto independent state and France's Total buying a majority stake in another.
SAO JOSE DOS CAMPOS, Brazil, June 19 (UPI) --Brazilian aircraft maker Embraer hopes to continue building up its sales of private jets at the same time as it expands capacity in defense, security and tactical transport.