Business News
Published: Apr 30, 2012
Crude Oil Slides Monday
by Staff

The price for crude oil slid close to $104 per barrel Monday, with stocks in Europe lower on dour economic news from Spain.

The government in Madrid said the fourth largest economy in Europe contracted 0.3 percent for the second consecutive quarter.

That put Spain in a recession. Last week, Britain's Office of National Statistics revealed Britain, too, had put together two quarters of contraction.

On the New York Mercantile Exchange, West Texas Intermediate crude oil for June delivery lost 71 cents to $102.22 per barrel. Natural gas gave up 2.4 cents to $2.162 per million British thermal units.

Home heating oil was up slightly, adding 0.1 cent to $3.1845 per gallon.

Gasoline hit $3.1362 a gallon, down 0.83 cent.

At the pump, the national average price of unleaded gasoline dropped to $3.816 per gallon Monday from Sunday's $3.819, AAA said. (c) UPI

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