Light, sweet crude oil for March delivery dropped sharply overnight in New York, sliding to less than $99 per barrel on concerns about Europe's economy.
Talks between Greece and creditors resumed this week but with no major breakthrough reported. With no deal reached, it is possible Greece will not be eligible for the next disbursement of funds from an international bailout facility. This could put Greece in default by the end of March and force it out of the 17-member eurozone.
West Texas Intermediate crude oil in New York shed $1.96 to $98.58 per barrel. Home heating oil prices shed 2.97 cents to $3.0063 per gallon. Reformulated blendstock gasoline prices lost 3.76 cents to $2.7852 per gallon.
Henry Hub natural gas prices added 1.4 cents to $2.336 per million British thermal units.
At the pump, the national average price of unleaded gasoline rose to $3.382 per gallon from Thursday's $3.378, AAA said.