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Crude Drops Off Record High

Stock quotes in this article: XOM , SRE , MMP , APC  

Updated from 11:41 a.m. EDT

After soaring into record territory early Wednesday, oil futures dropped sharply later in the session, led by news that gasoline and distillate inventories grew more than analysts were expecting during the previous week.

September West Texas intermediate crude was down $1.75 at $76.45 a barrel at the New York Mercantile Exchange. Reformulated gasoline was 8 cents lower at $2.03 a gallon, and heating oil was lower by 5 cents at $2.07 a gallon.

Meanwhile, natural gas futures spiked 15 cents to $6.34 per million British thermal units. ...

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Dow Jones S&P 500 NASDAQ 10-Year Note
10,495.46 1,114.49 2,214.09 35.77
Oil *
73.67
UP
43.46
UP
6.56
UP
13.04
DOWN
0.26
10 Yr
3.58%
SPDR Gold
111.54
+0.42%
+0.59%
+0.59%
-0.72%
Data delayed 20 minutes

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