The price of oil dropped Monday, AP reported. Benchmark crude for October delivery was down $1.03 to $106.62 per barrel at late afternoon Bangkok time in electronic trading on the New York Mercantile Exchange. The contract fell $1.15 to close at $107.65 on Friday. Brent crude, the benchmark for international crudes, was down 17 cents to $113.84 a barrel on the ICE Futures exchange in London.