AP News

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.


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