Oil prices fall as stimulus hopes fade

AP News
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Posted: Jul 31, 2012 3:22 PM
Oil prices fall as stimulus hopes fade

NEW YORK (AP) — Oil prices fell Tuesday as hopes faded for a new round of economic stimulus in the U.S.

On the New York Mercantile Exchange:

Benchmark crude lost $1.72 to end the day at $88.06 per barrel.

Gasoline lost 4.41 cents to end at $2.7743 per gallon.

Heating oil lost 3.74 cents to finish at $2.8417 per gallon.

Natural gas fell less than a penny to finish at $3.2090 per 1,000 cubic feet.

On the ICE Futures exchange in London:

Brent crude lost $1.28 to finish at $104.92 per barrel.