The selling of crude oil contracts spilled over into the gasoline market.
Current oil contracts will be allowed to run until July 2012.
A5 Algeria gained a vote of confidence with foreign oil contracts.
Crude oil contracts for delivery in later months also settled lower.
Yesterday, the oil contract opened down $1.20, and it climbed slowly through the day before falling at the close.
Kurdinstan is pushing for Washington's support of its oil contracts with foreign companies.
Their oil contracts in the Gulf will suddenly look very good indeed.
The crude oil contract for December delivery fell $2.02, to $31.87 a barrel.
Each time, Hess got the oil contract he wanted.
Crude oil contracts fell 42 cents a barrel, to $14.91, the first fall below $15 in four years.
