Oil Prices Fall As Greece Debt Talks Continue
Oil prices are falling as Greece’s debt negotiations spark new concerns about Europe’s financial problems.
Benchmark oil fell $2.14, or 2.1 percent, to $98.25 per barrel Friday morning in New York. Brent crude fell $1.39 to $110.16 per barrel in London.
Greece officials are working with private creditors on a new agreement to get bailout funding and prevent a default on its debt. Investors are concerned that the global economy could be hurt, and demand for oil weaken, if Europe’s financial troubles aren’t resolved soon.
At the pump, AAA says the national average for gasoline is practically unchanged at $3.38 per gallon. That’s almost 18 cents more than a month ago and about 27 cents more than a year ago.