MARKETSOil slides on Greece turmoil

Oil dropped Friday to a six-month low in New York on concern that Greece will have to exit the euro system, compounding Europe’s debt troubles and curbing fuel demand.

Futures declined 1.2 percent after German Finance Minister Wolfgang Schaeuble said market turmoil caused by the euro-zone crisis may last two more years. Crude capped its third weekly decline as U.S. consumer confidence fell and oil supplies rose to a 22-year high. Prices are down 11 percent this quarter after climbing 4.2 percent during the previous three months.

“All of the macroeconomic news has been negative,” said Stephen Schork, president of the Schork Group in Villanova, Pa. “Oil is moving on what’s happening in Europe and what it will mean here. in February, people were afraid to sell oil and now they’re afraid to buy it.”

Crude oil for June delivery fell $1.08 to $91.48 a barrel on the New York Mercantile Exchange, the lowest settlement since Oct. 26. Prices retreated 4.8 percent this week are down 7.4 percent this year.

AVIATIONDelta blames glitch for fare discrepancy

Delta Air Lines said a glitch that appeared to show different airfares to frequent fliers happened because it was trying out a new company to power flight searches on its website.

The airline has taken heat from customers after reports that people who logged into its website with their frequent flier number were offered higher fares than those who searched anonymously. Frequent fliers are an airline’s most valued customers, and the idea that they were asked to pay more has rankled travelers.

Late Friday afternoon, the Transportation Department said it is “looking into the Delta pricing issue.” Spokesman bill Mosley refused to elaborate.

FOODKraft to lower prices on coffee

Kraft Foods said it is cutting its U.S. coffee prices in response to a drop in the price of unroasted beans.

The food maker said it is immediately lowering the price for its Maxwell House and Yuban coffee by 6 percent. It is dropping prices for Gevalia coffee sold in retailers by 10 percent. And it is reducing the price for all of its instant coffees except Maxwell House by 4 percent.

The move came days after J.M. Smucker Co. cut the prices of its Folgers, Dunkin’ Donuts and other coffee brands by 6 percent.

RESTAURANTSChipotle faces SEC subpoena

The U.S. Securities and Exchange Commission has issued a subpoena to Chipotle Mexican Grill inc. regarding the restaurant chain’s hiring practices.

Chipotle said Friday that the subpoena it received Thursday requested information regarding its compliance with employee work authorization requirements, plus related information. It says it intends to fully cooperate with the SEC’s investigation.

Chipotle has said it is under investigation by federal immigration officials and prosecutors over compliance with employee work authorization laws and regulations.

In 2010, following questions from federal immigration officials, Chipotle fired about 450 Minnesota employees who couldn’t prove they were eligible to work in the U.S. Federal officials then requested worker authorization documents for employees in Virginia and the nation’s capital. That investigation continues.

The company contends it is following the law.

This article appeared on page D – 2 of the San Francisco Chronicle