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By right all grades should break below $2.00 before discount. Oct. 3 (Bloomberg) -- Oil fell from a one-year low in New York, extending declines after the worst quarter since 2008. Crude for November slid as much as $1.20, or 1.5 percent, to $78 a barrel in electronic trading on the New York Mercantile Exchange and was at $78.17 at 8:08 a.m. Sydney time. Futures declined 17 percent from the end of June, the biggest quarterly drop since the three months ended December 2008. Brent oil for November settlement fell 89 cents, or 0.9 percent, to $101.87 a barrel on the ICE Futures Europe Exchange in London.
