Business News - Crude oil prices slide Friday

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Crude oil prices slide Friday

NEW YORK (UPI) -- The price of light, sweet crude fell under $78 per barrel Friday as equities stayed flat in New York on news unemployment rose to 10.2 percent in October.

The jump in joblessness from 9.8 percent was unexpected and undermines a cornerstone of economic activity: the ability of consumers to spend.

Crude oil prices dropped $1.97 Friday to $77.65 per barrel. Heating oil prices lost 0.0478 cents to $2.0098 per gallon. Reformulated blendstock gasoline prices dropped 0.0581 cents to $1.9296 per gallon. Natural gas prices lost 0.18 cents to $4.602 per million British thermal units.

At the pump, the retail price for unleaded gasoline fell to a nation average of $2.679 per gallon from Thursday's $2.682, AAA said.

Copyright 2009 by United Press International

This news arrived on: 11/06/2009

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