U.S. crude futures fall more than $3, below $112

Reuters
Friday, August 15, 2008

NEW YORK (Reuters) – U.S. oil futures fell more than $3 on Friday, dropping below $112 a barrel to a 15-week low as the dollar rallied broadly on worries about other economies slumping, fueling growing concerns about sliding demand.

On the New York Mercantile Exchange at 10:02 a.m. EDT, September crude was down $3.00 or 2.6 percent at $112.01 a barrel, trading from $111.85 to $115.20.

That intraday trough was the lowest since $111.78 on May 2.

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