September 9, 2008 / 3:40 AM / 10 years ago

U.S. oil prices drop to near $102 a barrel

A sign board above the oil futures pit at the New York Mercantile Exchange September 9, 2008. Crude oil was trading around $103 a barrel at mid day after OPEC ministers were to hold a meeting and hurricane Ike was heading towards Gulf of Mexico oil platforms. REUTERS/Chip East

LOS ANGELES (Reuters) - U.S. crude oil futures fell more than $1 after Tuesday’s settlement to $102.06 a barrel, the lowest crude oil price since early April.

A month ago, U.S. crude futures were trading near $115 a barrel and a year ago, were trading around $78 a barrel. On Tuesday, October delivery crude settled at $103.26, down $3.08, after hitting a session low of $102.20.

Reporting by Bernie Woodall; Editing by David Gregorio

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