Oil Prices Down 15 Percent in Last Week

New York, NY, May 14, 2010--Oil prices fell to near $73 a barrel Friday amid expectations that Europe will experience a slower economic recovery and depress crude demand.

Benchmark crude for June delivery was down $1.31 to $73.10 a barrel at late afternoon Singapore time in electronic trading on the New York Mercantile Exchange.

Crude prices have fallen about 15 percent from early last week as the dollar gained amid a debt crisis in Europe. A stronger dollar makes oil more expensive for investors with other currencies.