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Oil slides below $88 per barrel

By Pamela Sampson
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BANGKOK (AP) — The price of oil fell below $88 a barrel Tuesday as shaky economic recoveries in China and the U.S. raise the prospect of weaker demand.

Benchmark oil for May delivery was down 86 cents to $87.85 per barrel at late afternoon Bangkok time in electronic trading on the New York Mercantile Exchange. The contract dropped $2.58, or 2.8 percent, to finish at $88.71 a barrel on Monday after hitting $87.86 earlier in the session. Crude has dropped nearly 10 percent this month.

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