Oil Drops $3.25 to $78.20

Business Week reported that oil fell $3.25 to $78.20 on concern over global economic slowdown.

As quoted in the market news:

Crude futures for August delivery fell $3.25 to $78.20 a barrel on the New York Mercantile Exchange, the lowest settlement since Oct. 4. The price is down 21 percent in 2012.

Click here to read the full Business Week report.