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Oil drops near $80 a barrel

Associated Press -- NEW YORK (AP) -- Oil prices dropped Friday, tumbling close to $80 a barrel as continued uncertainty about Greece's economy helped lift the dollar higher.

Benchmark crude for April delivery dropped $2 to $80.20 a barrel on the New York Mercantile Exchange.

Oil is traded in U.S. currency, and its price tends to fall as the dollar rises and makes contracts tougher to buy with foreign currency. Investors also will move money out of commodities and into the greenback as the dollar rises.

Crude prices rallied earlier this week after the Fed promised to hold interest rates at record lows in a move that was expected to help the economic recovery. Prices crested Wednesday, and they've been falling since then as worries about Greece's debts forced the euro lower.

Greece, which has strugg

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Submitted Mar 19, 2010 By: NO_SWEAT

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cpl11787 All-Star Author Minnesota Posts:630 Points:123,275 Joined:Jan 2010	Message Posted: Mar 21, 2010 9:45:48 PM Ignore cpl11787 Report Abuse good, now another ten dollars.
ENORMS Champion Author Colorado Posts:3,014 Points:1,172,310 Joined:Sep 2006	Message Posted: Mar 20, 2010 3:07:39 PM Ignore ENORMS Report Abuse This is a good thing!
SpaceAce5 Veteran Author South Dakota Posts:300 Points:68,195 Joined:Feb 2010	Message Posted: Mar 19, 2010 9:45:33 PM Ignore SpaceAce5 Report Abuse never low enough
PDQBlues Champion Author San Diego Posts:4,716 Points:982,400 Joined:Jan 2009	Message Posted: Mar 19, 2010 7:50:18 PM Ignore PDQBlues Report Abuse Oil prices go up, oil prices go down, but gas prices are too high!
FastAndy Champion Author Indianapolis Posts:4,406 Points:1,577,575 Joined:Jun 2007	Message Posted: Mar 19, 2010 3:23:53 PM Ignore FastAndy Report Abuse That's nice, now we just have to wait and see if pump prices really go down.