Oil down nearly 5 pct. on stronger dollar, Europe

AP News
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Posted: Jun 15, 2011 4:48 PM
Oil down nearly 5 pct. on stronger dollar, Europe

The financial crisis in Europe threatens to snuff out the four-month rally in oil that began in Libya.

Here's a breakdown of how energy contracts traded Wednesday:

On the New York Mercantile Exchange:

Crude fell $4.56 to settle at $94.81 per barrel.

Gasoline dropped 14.11 cents to settle at $2.9235 per gallon.

Heating oil lost 14.10 cents to settle at $2.9848 per gallon.

Natural gas gave up less than a penny to settle at $4.577 per 1,000 cubic feet.

On the ICE Futures exchange:

Brent crude fell $6.34 to $113.01 per barrel.