The price of oil is dropping after the European Central Bank gave a downbeat assessment of the region's economy.
Benchmark oil fell $1.89, or 2.2% to $85.99 per barrel in New York.
Brent crude fell $1.51 to $107.30 per barrel in London.
The ECB is leaving its key interest rate unchanged at a record low and cutting its 2013 growth forecast to negative from positive.
The decision comes as the 17 countries that use the euro currency are in a recession.
Europe's problems have hurt global economic growth.
That can lead to less demand for energy products.
