Crude Oil Drops Below $94 a Barrel

Worries about the health of the global economy and gains for the U.S. dollar sent crude oil futures lower Thursday in New York.

Light, sweet crude for November delivery dropped $4.56 to $93.97 a barrel on the New York Mercantile Exchange, and Brent crude fell $4.77 to $90.56 a barrel.

Reformulated gasoline futures declined by 11 cents to $2.26 a gallon, and heating oil slid 14 cents to $2.71 a gallon.

Among stocks, integrated oil and gas companies Exxon Mobil ( XOM), Chevron ( CVX) and ConocoPhillips ( COP) all saw their shares fall.

Refiners Valero ( VLO) and Tesoro ( TSO) gave back more than 11% each. Services names Halliburton ( HAL) and Schlumberger ( SLB) also declined.

The U.S. Oil ( USO) ETF, which tracks crude prices, slid 4.7%.

This article was written by a staff member of TheStreet.com.

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