TW:Price of oil stays around its four-month low mark
NEW YORK (AP) - Oil stayed near a four-month low on Thursday as investors continued to worry about the European financial crisis.
Benchmark West Texas Intermediate crude rose 14 cents to settle at $94.95 per barrel on the New York Mercantile Exchange.
Oil dropped more than 4 percent on Wednesday as Greece's financial troubles deepened. And worries about Europe's economy continued on Thursday. Europe consumes about 18 percent of the world's oil, and oil demand would likely drop if Europe's economy stalls.
By Staff Reports
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