Oil prices slide

New York -- Crude oil prices swung lower to $126.02 a barrel Thursday, a reflection of the U.S. dollar reaching a five-week high against the euro.

Daily fluctuations aside, a four-week slide in oil prices has coincided with the dollar's gain. The price of oil, which peaked July 3 at $145.27, fell 75 cents Thursday to $126.02 per barrel.

The euro, at $1.5612 Thursday morning, closed at $1.5764 on June 26.

On the New York Mercantile Exchange, heating oil prices also fell, down 0.0173 cents to $3.503 per gallon. Reformulated blendstock gasoline prices fell 0.0347 cents to $3.1004 per gallon. Natural gas prices fell 0.078 cents to $9.17 per million British thermal units.

The national average retail price of unleaded gasoline continued to edge lower, down 0.017 cents to $3.909 per gallon, the AAA Daily Fuel Gauge Report said.

Copyright 2008 by United Press International.