NEW YORK — The price of oil has declined to its low for the year on continued doubts about Europe's ability to pay off massive government debts.
Benchmark U.S. crude lost $1.57 to $94.56 per barrel in New York. It dipped to $93.65 per barrel earlier in the day, the lowest since mid-December.
Oil declined as a leadership crisis in Greece raised doubts that it would comply with a eurozone-supported plan to get out of debt. Analysts see Greece as a test case for whether cash-strapped European nations can slash spending and improve their economies. Europe consumes 18 percent of the world's oil.
In the U.S., retail gasoline prices fell less than a penny over the weekend to $3.727 per gallon.
- California orders churches, others to pay for...
- Two Christian ministers refuse to perform...
- US: IS earns $1M per day in black market oil...
- 2 dead in shooting attack at Canada's Parliament
- Chairman of Becket Fund for Religious Liberty...
- Threat to break isolation in Liberia over food
- For a waitress, sexual harassment is an...
- #ThrowbackThursday: Why do we love the '90s?
- Two Christian ministers refuse to... 114
- California orders churches, others to... 23
- Wyoming prepares to legalize same-sex... 22
- On campaign trail, Obama says GOP is... 18
- Expelled Nazis got millions in Social... 10
- Chairman of Becket Fund for Religious... 10
- This type of high school can increase... 8
- Kerry: 'Irresponsible' not to aid Kurds... 7