Crude oil prices dropped under $85 per barrel in New York Friday as concerns of a slow economic recovery weighed on the market.
Traders are also reacting to recent reports that indicate global production rose in response to tensions in the Middle East that did not disrupt supply lines as much as previously feared. As such, supplies are seen as too high to support the $92 per barrel plateau that dominated fall pricing.
West Texas Immediate crude oil for December delivery dropped 69 cents to hit $84.40 per barrel on the New York Mercantile Exchange.
Reformulated gasoline prices added 0.9 cents to $2.6163 per gallon. Home heating oil shed 0.21 cents to $2.9533 per gallon.
Natural gas prices lost 7.1 cents to $3.537 per million British thermal units.
At the pump, the national average price of unleaded gasoline fell to $3.456 per gallon from Thursday's $3.464, AAA said.