Oil Falls Below $77

6 May 2010 (Last Updated May 6th, 2010 18:30)

Oil prices fell below $77 a barrel today, marking a $10 fall in the dollar over the past week. For June delivery, US crude dropped 31¢ to $76.80 a barrel by 06.58 GMT, while London Brent crude dropped 14¢ to $79.69 a barrel, according to Reuters. Oil fell by 4% y

Oil prices fell below $77 a barrel today, marking a $10 fall in the dollar over the past week.

For June delivery, US crude dropped 31¢ to $76.80 a barrel by 06.58 GMT, while London Brent crude dropped 14¢ to $79.69 a barrel, according to Reuters.

Oil fell by 4% yesterday after a suspected trading fault led stocks in the US to fall 9% in the last two hours of trading, its biggest single intraday drop.

The contract has fallen more than 10% this week in a tumultuous reaction to a growing sovereign debt crisis in Europe and bearish global growth prospects.