UPDATED 16:51 PM EST, December 6, 2012
Benchmark oil fell $1.62, or 1.8 percent, to finish at $86.26 per barrel in New York. Brent crude, which is used to price international varieties of oil, dropped $1.78, or 1.6 percent, to end at $107.03 per barrel in London.
The ECB left its key interest rate unchanged at a record low, and the bank cut its 2013 economic forecast for the region to negative from positive.
The 17 countries that use the euro currency are in a recession after a massive debt crisis followed by government spending cuts and tax hikes that have hurt growth.
