Oil below $83 as Bernanke gives no hint of stimulus

Oil   Oil
By The Associated Press on June 8, 2012

The price of oil fell to below $83 a barrel on Friday after Federal Reserve Chairman Ben Bernanke gave no hint that the central bank is planning stimulus measures to revive a faltering recovery.

Benchmark oil for July delivery was down $2.56 to $82.26 per barrel by midday European time in electronic trading on the New York Mercantile Exchange. The contract fell 20 cents to settle at $84.82 in New York on Thursday.

In London, Brent crude for July delivery was down $2.10 at $97.83 per barrel on the ICE Futures exchange.

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