NEW YORK, May 7 (UPI) -- Crude oil prices dropped to less than $76 a barrel in New York as traders reacted to a blustery week in equities and commodities.
Traders are weighing inventory data against and the oil spill in the Gulf of Mexico against a dramatic downturn in equity markets, highlighted by a near free-fall Thursday that pushed the Dow Jones industrial average off 3.2 percent.
The dollar index has climbed through the week, pushing oil prices lower, as petroleum is traded in U.S. currency.
June delivery crude oil prices shed $1.50 from a prior settlement to $75.61 per barrel, down more than $10 in four trading sessions.
Heating oil futures for June lost 0.0254 cents to $2.0883 per gallon. Reformulated gasoline blendstock prices lost 0.0266 cents to $2.1297 per gallon.
Henry Hub natural gas futures for June added 0.039 cents to $3.968 per million British thermal units.
At the pump, the national average price for unleaded gasoline fell to $2.922 per gallon, Friday, down from Thursday's $2.929, AAA said.
