The price fell as low as $49.77, the first time its gone below - TopicsExpress

The price fell as low as $49.77, the first time its gone below $50 in more than five years. Oil traded as high as $107 a barrel in June. Energy stocks fell the most in the S&P 500, dropping 4 percent. Chevron fell $4.56, or 4.1 percent, to $108.02. Exxon Mobil dropped $2.64, or 2.8 percent, to $90.20. EURO JITTERS: The euro also dropped. The currency was trading at $1.1945 after falling as low as $1.1862, its lowest since December 2005. The drop was triggered by reports that German Chancellor Angela Merkel no longer believes it would be too risky for the 19-member eurozone if Greece dropped out of the currency bloc.

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