Gazprom Neft Drops to 5-Month Low as Crude Slides Below $100

OAO Gazprom Neft, the oil arm of Russia’s natural gas export monopoly, sank to its lowest level in more than five months as oil dropped the most since December.

The shares retreated 4.5 percent to 132.81 rubles by the close in Moscow, their weakest price since Nov. 21.

Oil fell after European Central Bank President Mario Draghi said yesterday the region’s economic prospects had downside risks, while reports showed service industries in the U.S. grew less than projected and consumer confidence weakened. Oil may decrease next week as economic growth and fuel demand slows, according to a Bloomberg News survey.

Crude for June delivery slid 4.4 percent to $98.02 in New York, heading for the biggest fall since Dec. 14 after a report showed U.S. employers added fewer workers than forecast last month.

To contact the reporter on this story: Ksenia Galouchko in New York at kgalouchko1@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net