ADN: Oil falls nearly 3 percent on Europe concerns
NEW YORK (AP) - Oil is dropping on growing concerns about Europe's ability to solve its credit crisis.
Benchmark crude lost $2.57, nearly 3 percent, at $85.42 in New York while Brent crude slipped $2.56 to $109.66 in London.
The drop mirrored a broad sell-off in stock markets. The Dow Jones industrial average, the Standard and Poor's 500 and the Nasdaq are all down about 2 percent.
Oil's been falling since Friday, when European leaders delayed more emergency funds to Greece. If the Greek government defaults, it could destabilize the economies of other countries as well.
Gasoline pump prices fell Monday to a national average of about $3.59 per gallon.
