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Oil ends below $87 a barrel

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Oil ends below $87 a barrel
Submitted by Fox First at Ten on October 23rd

By The Associated Press

The price of oil fell to a three-month low Tuesday as big corporations cut earnings forecasts, raising concerns about economic growth and oil demand.

On the New York Mercantile Exchange:

Benchmark crude fell $1.98 to finish at $86.67 per barrel.

Gasoline fell 4.25 cents to end at $2.6050 a gallon.

Heating oil fell 3.33 cents to finish at $3.0434 a gallon.

Natural gas rose 8.3 cents to end at $3.5350 per 1,000 cubic feet.

On the ICE Futures exchange in London:

Brent crude fell $1.19 to finish the day at $108.25 per barrel.

Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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