Oil ends lower reports of Iran embargo delay

AP News
|
Posted: Jan 12, 2012 5:13 PM
Oil ends lower reports of Iran embargo delay

Anxiety that Iranian oil would soon be forced off European markets eased Thursday, sending crude prices below $100 a barrel for the first time this year. Here's how energy contracts traded.

On the New York Mercantile Exchange:

Benchmark crude fell $1.77 to finish at $99.10 per barrel.

Gasoline fell 3.2 cents to end at $2.7313 a gallon.

Heating oil fell 1 cent to finish at $3.0541 a gallon.

Natural gas fell 8 cents to end at $2.6970 per 1,000 cubic feet.

On the ICE Futures exchange in London:

Brent crude fell $1.01 to finish the day at $111.05 per barrel.