Oil Prices Drop to Lowest Level Since May

rude oil futures fell $1.10 to close at $67.50 on the New York Mercantile Exchange, the Associated Press reported Wednesday.

The drop puts crude futures at their lowest level since May, AP said.

A rise in crude inventories and the end of the summer driving season, coupled with a lull in geopolitical tension and a mild Atlantic hurricane season have helped drive down prices, AP reported.