Crude oil falls below $130 - WMC Action News 5 - Memphis, Tennessee

Crude oil falls below $130

 NEW YORK (AP) - It hasn't trickled down to the gas pump yet, but oil prices today settled below $130 a barrel for the first time in more than a month.

The big slide in oil prices has continued for a third straight day.

Light, sweet crude for August delivery dropped $5.31 to settle at $129.29 a barrel on the New York Mercantile (MUR'-kuhn-tyl) Exchange. The benchmark price has lost more than $15 in just the past three days.

At the gas pump, prices held steady at a record topping $4.11 a gallon. That's according to auto club AAA, the Oil Price Information Service and Wright Express.


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