Oil Prices Dropped $1.06 Over Slowing Growth in China

Reuters reported that oil prices dropped $1.06 due to worries over slowing growth in China and recession in Italy.

As quoted in the market news:

U.S. April crude fell $1.06 to settle at $106.34 a barrel, also snapping a string of three higher closes and ending below the 10-day moving average at $106.69 after dropping to an intraday low of $105.38.

Click here to read the full Reuters report.