Oil price down $0.7 to $76.89 in London, in New York to $78.7 (-0.96)

As of March 1st, the IPE Brent Crude February futures contract dropped to $76.89 (-0.7) a barrel on the London-based ICE Futures Europe exchange. Light Sweet Crude fell $0.96, to $78.7 on the New York Mercantile Exchange.