Oil Dropped 16 Cents to $91.69 a Barrel

- May 22nd, 2012

Bloomberg reported that oil dropped 16 cents after Iran decided to let in United Nations nuclear inspectors.

Bloomberg reported that oil dropped 16 cents after Iran decided to let in United Nations nuclear inspectors.

As quoted in the market news:

Crude for July delivery was at $91.69 a barrel, down 16 cents, in electronic trading on the New York Mercantile Exchange at 9:10 a.m. Sydney time. The contract slid 1.1 percent to $91.85 yesterday, the lowest close since May 18. The June future, which expired, fell 91 cents to $91.66. Front-month prices are 7.2 percent lower this year.

Click here to read the full Bloomberg report.

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