NEW YORK, May 11 (UPI) — A rally in crude oil prices slipped Tuesday, as equity markets in Asia and Europe turned south, pulling the price of crude to less than $76 a barrel.
Equities made strong gains Monday after European leaders announced a $957 billion package to shore up the euro. But investor confidence waned quickly. The Nikkei 225 index in Japan dropped 1.14 percent Tuesday. In midday trading, stocks were down in Germany, Britain and France.
June delivery crude oil prices dropped 97 cents from a prior settlement to $75.83 per barrel. Heating oil futures for June lost 0.009 cents to $2.1112 per gallon. Reformulated gasoline blendstock prices fell 0.0064 cents to $2.1662 per gallon.
Henry Hub natural gas futures added 0.003 cents to $4.173 per million British thermal units.
At the pump, the national average price for unleaded gasoline dropped to $2.901 per gallon Tuesday from Monday’s $2.908, AAA said.
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Tags: Crude Oil, Crude Oil Prices, Oil Prices, Prices
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