Jul 17, 2008 12:00 pm US/Eastern
Oil Prices Tumble For 3rd Straight Day
NEW YORK (AP) ―
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Oil is now down about $14 in the last three days.
David McNew/Getty Images
Oil prices are tumbling for the third straight day and natural gas futures are accelerating a sell-off amid growing concerns about the weakening U.S. economy.
Light, sweet crude for August delivery is down $3.50 at $131.10 a barrel on the New York Mercantile Exchange in extremely volatile trading. Oil is now down about $14 in the last three days.
Natural gas prices are also plunging.
Natural gas is trading down 82.6 cents at $10.572 per 1,000 cubic feet. It has tumbled more than 20 percent since its peak before the Fourth of July.
(© 2009 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)
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