Oil falls more than 2 percent on Bernanke comments

AP News
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Posted: Jul 14, 2011 5:24 PM
Oil falls more than 2 percent on Bernanke comments

Oil dropped more than 2 percent Thursday after Federal Reserve Chairman Ben Bernanke said the government wasn't ready to immediately pump more cash into economic stimulus programs.

Here's how energy contracts traded.

On the New York Mercantile Exchange:

Crude gave up $2.36 to settle at $95.69 per barrel.

Gasoline lost 2.68 cents to settle at $3.1248 per gallon.

Heating oil fell 1.48 cents to settle at $3.0849 per gallon.

Natural gas dropped 2.9 cents to settle at $4.358 per 1,000 cubic feet.

On the ICE Futures exchange:

Brent crude fell $1.59 to settle at $116.26 per barrel.