Sector Snap: Big oil shares tumble (AP)

Friday October 10, 11:32 am ET Shares of big oil tumble as crude, natural gas prices drop and broader markets swing sharply NEW YORK (AP) -- Shares of large oil and natural gas companies dropped Friday morning as the broader markets and energy prices tumbled on continued fear about the state of the global economy. Light, sweet crude for December delivery fell $4.63, or 5.4 percent, to $81.99 on the New York Mercantile Exchange. Earlier in the session prices fell to $78.66, levels not seen in more than a year and nearly half of all-time highs reached in July. Natural gas for November delivery dropped 13.4 cents, or... [read full story]