Price of oil drops near $88 per barrel

My Fox Spokane Biz
Price of oil drops near $88 per barrel

NEW YORK (AP) - Oil prices fell the most in five months on Wednesday as China's slowing economy raised questions about the strength of global oil demand.

On the New York Mercantile Exchange:

Benchmark crude fell $3.75, or 4.1 percent, to finish at $88.14 per barrel.

Natural gas fell 13.6 cents, or 3.9 percent, to end at $3.395 per 1,000 cubic feet.

Heating oil dropped 5.9 cents to finish at $3.066 per gallon.

Wholesale gasoline lost 6.97 cents, or 2.4 percent, to end at $2.7995 per gallon.

On the ICE Futures exchange in London:

Brent crude dropped $3.40, or 3 percent, to finish the day at $108.17 per barrel.

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 This material may not be published, broadcast, rewritten or redistributed.

Most Popular Stories

UPDATE: Crash On Spokane's South Hill At Freya & 35th

UPDATE: Crash On Spokane's South Hill At Freya & 35th
UPDATE: Authorities say that a tan SUV was heading west on 35th on Wednesday afternoon when the driver ran a stop sign at Freya. A blue SUV that was headed south on Freya hit the tan SUV causing the vehicle to flip over. There were two people in the overturned SUV, a woman and a little girl. They

Idaho Toddler Dies After Being Left In Car

Idaho Toddler Dies After Being Left In Car
AMMON, Idaho (AP) - Officials with the Bonneville County sheriff's department say a 21-month-old southeastern Idaho girl has died after she was left in a vehicle.    A news release says deputies and paramedics were called shortly after 5:15 p.m. Tuesday to a residence in Ammon,

Not Guilty Plea In Nine Mile Slaying

Not Guilty Plea In Nine Mile Slaying
SPOKANE, Wash. (AP) - The man accused of strangling his girlfriend and putting her body in a tub of acid at a Nine Mile Falls home pleaded not guilty Tuesday to a murder charge in Spokane. The trial for 27-year-old Jason Hart is set for Aug. 12. He's accused of killing 33-year-old Regan