Oil prices dropped this evening as the US and Europe clashed over how to handle the euro zone debt crisis.
US crude gave up $1.92 to $87.48 a barrel, while London Brent lost 35 cents to $111.93.
US Treasury Secretary Timothy Geithner was meeting European finance ministers in Poland today, suggesting that the US is growing more concerned about Europe's direction.
A weakened global economy drives energy prices lower and the lack of a certainty about Europe has been pressuring the energy sector. Europe consumes about 18% of all crude produced globally.
There are issues in the United States, however, that are also pushing down energy demand. US refineries will use less oil this month as they reconfigure plants to produce winter fuel blends. Refiners must use a different blend during warm summer months to reduce emissions.
