Oil slips below $101 as Iran tensions bubble

Gas station manager Fred Oliver, of Lisbon Falls, Maine, changes the price of gasoline on the pumps at a station in Topsham, Maine, on Tuesday, Feb. 7, 2012. Retail gasoline prices were flat on Tuesday at a national average of $3.48 per gallon, according to AAA, Wright Express and Oil Price Information Service. Prices remain at the highest levels ever for this time of year. A gallon of regular is 11 cents higher than it was a month ago and 36 cents higher than a year ago. (AP Photo/Pat Wellenbach

February 16, 2012 6:38:39 AM PST
Oil retreated to below $101 a barrel Thursday amid conflicting reports about whether Iran is cutting crude exports to Europe.