Crude oil prices in New York dropped under $99 per barrel Tuesday as creditors holding Greek debt are balking at taking voluntary write-offs.
If an agreement cannot be reached as stipulated by the European Union, Greece would not be eligible for a disbursement of international assistance that would keep it from falling into default in March.
On the New York Mercantile Exchange, West Texas Intermediate crude oil for March delivery lost 87 cents to reach $98.71 per barrel. Home heating oil added 1.02 cents to $2.015 per gallon. Reformulated blendstock gasoline prices dropped 0.94 cents to $2.7762 per gallon.
Henry Hub natural gas prices added 8.9 cents to $2.6144 per million British thermal units.
At the pump, the national average price of unleaded gasoline dropped to $3.381 per gallon Tuesday from Monday's $3.383, AAA said.