The price of oil fell Thursday after the European Central Bank predicted a bleak year ahead for the region’s economy, but stopped short of offering new measures to boost growth.

On the New York Mercantile Exchange:

n Benchmark crude fell $1.62 to finish at $86.26 per barrel.

n Heating oil fell 4.75 cents to end at $2.9432 per gallon.

n Wholesale gasoline fell 4.09 cents to finish at $2.5969 per gallon.

n Natural gas fell 3.4 cents to finish at $3.666 per 1,000 cubic feet.

n On the ICE Futures exchange in London:

n Brent crude, which is used to price international varieties of oil, fell $1.78 to finish at $107.03 per barrel.