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May 5 (Bloomberg) -- Crude oil fell below $80 a barrel in New York as the euro dropped against the dollar on concern that Greece’s bailout may have to be extended to other indebted nations.
Oil slipped as much as 4.3 percent as the common currency tumbled to its lowest level against the dollar since March 2009, curbing the appeal of commodities to investors. An Energy Department report today will probably show that U.S. stockpiles of crude rose 1 million barrels last week, based on the median of estimates from 16 analysts surveyed by Bloomberg News.
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May 5 (Bloomberg) -- Crude oil futures for delivery in 2018 surged above $100 a barrel this week as the BP Plc oil spill in the Gulf of Mexico led the government to consider a halt in future drilling.
June delivery crude oil prices have fallen more than $6 since Monday, shedding $3.14 from a prior settlement to $79.60 per barrel. Prices are dropping with a rise in the dollar triggered by concerns Greece could default on its debt, despite international aid.