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Oil Falls Below $100 in Third Straight Decline

1/20/2012 12:00:00 PM
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Jamie Rector/Bloomberg News

Oil fell under $100 a barrel Friday, the third straight daily decline, on signs that China’s manufacturing was declining and European economic growth slowed, Bloomberg reported.

Benchmark light sweet crude futures fell more than $2 to below $99 a barrel in midday trading on the New York Mercantile Exchange, Bloomberg said.

Oil closed over $100 in the past three days and the two days it closed below that level late last week were the only time in the past 12 trading days it has done so.

Diesel pump prices rose for a second week this week after six declines, and gasoline also rose, the Department of Energy reported Tuesday.

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Diesel Rises 2.6¢ to $3.854 as Iran Threats Push Oil Up (1/23/2012 1:30:00 AM)
Oil Falls Below $100 in Third Straight Decline (1/20/2012 12:00:00 PM)
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U.S. Trade Deficit Widens in November (1/13/2012 9:15:00 AM)

Emil Estafanous, CPA, CFF, CGMA