Crude Oil ( ) Brent Crude ( ) Natural Gas ( ) S&P 500 ( ) PHLX Oil ( )

West Texas Intermediate oil fell $1.16 to $81.33 a barrel on the New York Mercantile Exchange at 1:37 p.m. An analysis of a group of wells on the same lease in La Salle County, in the heart of Texas's booming Eagle Ford formation, showed that closer spacing reduced the rate of return for drilling to 23 percent from a high of 62 percent for wells spaced further apart, according to a paper …

Tags: