Oil Falls Under $140

By: Associated Press Email
By: Associated Press Email

Vienna, Austria (AP) Oil has fallen below $140 a barrel after a plunge of nearly $4 yesterday.

Sweet crude for August delivery fell $2.32 to $139.05 a barrel in electronic trade on the New York mercantile exchange by noon in Europe.

Trader and analyst Stephen Schork says the expectation just a few days ago that crude prices would touch $150 this week now “does not look like the proverbial done deal.”

But Schork and other analysts say the pullback may be temporary.

The dollar has been stronger against most other major currencies in European trading.

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