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Oil drops to near $75 per barrel

Posted by Genie Wood on Mon, May 10, 2010 @ 03:54 AM

The end of last week saw oil drop to $75.15 per barrel after a nearly $2 drop on Friday. The price fell a total of $11 over the week. On Friday the week before, the cost was $86.15.

The price of crude oil is at its lowest since February. The drop occurred partly because of fears that Europe's debt crisis might start spreading to the U.S. and other economies, experts say.

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