Crude oil prices dropped more than $1 a barrel and gasoline futures fell sharply Friday as key allies discussed releasing supplies from their stockpiles to help offset U.S. shortages that have driven retail gas prices above $3 a gallon.
Light sweet crude for October delivery on the New York Mercantile Exchange fell $1.42 to $68.05 a barrel in electronic trading by afternoon in Europe. Gasoline futures tumbled nearly 18 cents to $2.2295 a gallon, their first decline this week. Heating oil fell nearly 11 cents to $2.0930 a gallon. On London’s International Petroleum Exchange, October Brent fell US$1.70 to US$66.02 a barrel.
