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Oil falls to near $86 per barrel

Associated Press

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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.