Further drop in Crude oil prices, goes under $85 per barrel

Further drop in Crude oil prices, goes under $85 per barrel As concerns resurfaced about government debt in Greece, Crude oil for May delivery dropped to less than $85 a barrel in New York on Friday.

Greece represents just 3 percent of the gross domestic product of the European Union, but its resistance to its latest rescue plan has raised concerns of default on its obligations.

The implications ripple through the eurozone, which has the euro as a common currency.

Also the Energy Information Administration, weighing on prices said that stockpiles of crude oil rose by 2 million barrels for the week ending April 2.

On the New York Mercantile Exchange, the price of May delivery lost 41 cents from a prior settlement to $84.98 per barrel.

Heating oil futures for May delivery shed 0.0017 cents to $2.2265 per gallon.

There was a drop of 0.0075 cents in reformulated gasoline blend-stock which dropped to $2.2908 per gallon.

With gain of 0.172 cents, Henry Hub natural gas prices ended the day at $4.081 per million British thermal units.

According to the reports of AAA, at the pump, the national average price for a gallon of unleaded gasoline rose to $2.862 per gallon Friday from Thursday's $2.856. (With Inputs from Agencies)