Thursday, 5 May 2011
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Crude oil drops below $100 a barrel
NEW YORK, May 5 (UPI) -- Crude oil prices retreated further Thursday, losing $9.44, or 8.6 percent, to settle at $99.80 a barrel on the New York Mercantile Exchange.
It was the first time since mid-March that oil prices closed below $100.
Natural gas tumbled fell 32 cents to $4.26 per million British thermal units.
Home heating oil lost 17 cents to close at $2.9680 a gallon.
Gasoline closed at $3.0954 a gallon, a loss of nearly 22 cents.
At the pump, the average price of a gallon of unleaded gasoline was $3.985 Thursday, up from $3.982 on Wednesday.
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