Oil Closes Below $80 a Barrel for First Time Since October
Oil fell more than $3 Thursday to finish the trading day under $80 a barrel for the first time since early October, Bloomberg reported.
Crude futures tumbled $3.25 to finish the New York Mercantile Exchange trading day at $78.20 a barrel, Bloomberg said.
It was the lowest Nymex closing price and first time oil has closed under $80 since Oct. 5, according to Bloomberg figures.
The decline, which followed Wednesday’s $2.23 drop, followed economic reports that suggested lower demand, Bloomberg said, along with a
for almost three months, as oil has tumbled since April.
