Crude oil prices dipped under $86 a barrel on the New York Mercantile Exchange Thursday after the eurozone's central bank lowered its economic forecast.
The European Central Bank on Thursday kept its overnight lending rate intact, as did the Bank of England. But the ECB's economic forecast calls for a 0.3 percent drop in the eurozone's economy in 2013, a downgrade from the previous estimate, which called for 0.5 percent growth.
In New York, the price of West Texas Intermediate crude oil dropped $1.89 to reach $85.99 per barrel. Home heating oil shed 2.8 cents to fall to $2.9627 a gallon, while reformulated blendstock gasoline lost 3.04 cents to $2.6074 a gallon. Henry Hub natural gas gave up 0.4 cents to $3.696 per million British thermal units.
At the pump, AAA reported a national average price for regular unleaded gasoline at $3.379 per gallon, losing a 10th of a cent for the second consecutive day.
Most Popular Stories
- I never set out to be a role model but it's great to be one ; IN THE HOTSEATBetter known by his stage name Wretch 32, Jermaine Sinclair is a 28-year-old rapper from London. In 2011 his debut album Black and White sold over a million copies and scored three top five singles. His latest single Blackout was released this week
- Schedule packed with talent at the Fox
- Promoter McLean 'provided more musical joy than Dylan and Prince combined'
- SET PHASERS TO DUMB Spock emotional and in love? Nonstop explosions? The highly illogical enterprise of J.J. Abrams' 'Star Trek'
- Emirati announces new film project at Cannes
- European Car Sales up First Time in 20 Months
- SINCE YOU ASKED [Pittsburgh Tribune-Review (PA)]
- The Blade, Toledo, Ohio, TK Barger column
- Entrepreneurs Chase Social Media
- Detroit Free Press Julie Hinds column