Fall of Euro against dollar pushes crude oil prices under $71
With the euro close to a four-year low against the U. S. dollar, Crude oil prices fell to less than $71 per barrel on the New York Mercantile Exchange Monday.
It has been reported that the euro rose on Monday, lifting from Friday's $1.2384 to $1.2396. But the weak euro is a tangible symptom of concerns over sovereign debt in Europe that has undercut market stability.
June delivery crude oil in New York slipped from a prior settlement to $70.70, off 91 cents.
Heating oil prices for June delivery lost 0.0406 cents to $2.02 per gallon.
Falling by 0.0628 cents, reformulated gasoline blend-stock prices went down to $2.068 per gallon.
It was further reported that Henry Hub natural gas added 0.066 cents to $4.378 per million British thermal units.
According to reports of AAA, at the pump, the national average price for unleaded gasoline dropped to $2.867 per gallon from Sunday's $2.872. (With inputs from Agencies)