Bloomberg News

Oil Falls for a Third Day in New York on European Debt Concern

October 31, 2011

Nov. 1 (Bloomberg) -- Oil fell for a third day in New York. Crude for December delivery slid as much as 61 cents, or 0.7 percent, to $92.58 a barrel in electronic trading on the New York Mercantile Exchange and was at $92.70 at 7:11 a.m.

Prices dropped as stocks and commodities fell on concern European leaders will struggle to raise funds to contain the region’s sovereign debt crisis. The contract declined 13 cents yesterday to settle at $93.19 a barrel. Futures rose 18 percent in October, the biggest gain since May 2009.

To contact the editor responsible for this story: Paul Gordon at pgordon6@bloomberg.net


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